Frontline stock (Oslo): resistance at 388 kroner became support
A price area that stopped four rises, and then stopped a fall.
Every figure below was measured on September 28, 2026 and has not been updated since.
Frontline has been climbing since June, from around 330 kroner to around 456 now.
You may have seen someone say it "broke resistance at 388". Does that mean
anything, or did somebody draw a line where the price happened to turn?
The short version: 388.50 kroner stopped four rallies in five months. In
August price finally closed above it, and a week later the same area stopped a
fall. It has held since.
The rest of this post is the evidence for those three sentences. Every price is
a weekly close, which is where Frontline ended the week on a Friday.
First: what resistance is
A price where sellers have turned up before and stopped a rise. Support is the
same thing upside down: a price where buyers have turned up and stopped a fall.
The weekly chart looks back two years. On it there are 31 prices you could draw
a line at, and price has turned at every one of them at some point.
But price has gone straight back through 20 of those, between three and ten
times each, so those 20 are not boundaries at all. They are just places the
price has been.
The monthly chart looks back ten years. It finds 41 lines and trusts one of
them.
This is the part most people have backwards. More lines do not mean firmer
ground. Usually they mean price has moved through that area easily.
One price axis, two charts, measured separately.
The weekly chart trusts two levels: one at 388.50, and one far below at 126.00.
The monthly chart trusts a single one, at 314.30, 24% below where the month
last closed. It also has a line at almost the same price, 388.60, but that one
does not count as a level: it is marked as a price that switched sides in
August, from resistance to support. Two charts noticing the same turn, ten
years and two years apart, is still worth a mention even when only one of
them counts it as a level.
That leaves one area the weekly chart is confident about, above the older
126.00 floor. Around 388.50.
What made 388.50 matter
Four times between March and August 2026, price traded above 388.50 during the
week and closed back below it by Friday. Not once in those 24 weeks did a
week's close end above the level.
Four times the rise stopped here. In August it did not.
Then, in August, it went above
In the week starting 17 August, Frontline opened at 392 — already above the
level — dipped to 388.40 during the week, and closed at 413.90. That is on 0.64
times the volume of a normal week for this stock, below its own trailing-year
average. Whether a break on less volume behaves differently afterwards than
one on more has not been measured here, so this post states the number and
stops there.
The next week, price fell back to 384.10, just under the level, before closing
the week at 418.20.
First test since the break, and the level held.
And then the interesting part
The weeks after that closed higher: 435.30, then 458.40, then 485.40. The most
recent week closed at 456.20, down from that high but still well above 388.50.
The area that had stopped four rallies was now stopping a fall.
And it matters who is standing there. Everyone who sold short around 388 in
those five months is down on the trade if they are still in it. If price falls
back to that area, that is where they can buy to break even. So there are real
people watching 388.50, with a reason. That is what a level is made of.
Where price is now
The last weekly close is 456.20, 14.8% above the 388.50 area.
Below the price, the weekly chart trusts only one other level, far down at
126.00. The monthly chart's only trusted level is 314.30, 24% below its own
last close. Neither chart has anything trusted between where price is now and
those two floors.
So the two charts do not disagree. One sees two years and the other sees ten,
and they say the same thing: the nearest level that has held is a long way
down, on both.
What 388.50 is good for
388.50 tells you nothing about where price is going. It tells you where you
would notice if the picture changed.
Twenty-nine of the 31 lines on the weekly chart can be ignored. Price has gone
through twenty of them three times or more, and the other nine were never
counted as levels at all. Only two have held, and 388.50 is the one near the
price. Knowing which two is most of the work.
And one thing would cancel the whole reading: a weekly close back below 388.40.
That puts price under the level again. You would see it yourself, on a Friday,
without anyone telling you.
You may have noticed this post never says which way the price goes next. Here
is why. 1,350 breaks have been measured across the site's companies, and
whether the level held or not, the twelve weeks afterwards look the same as any
random week. Anyone who tells you different is guessing.
