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The Company, a Norwegian oil and gas firm, has witnessed an increased interest for renewables after the Fukushima nuclear disaster, but for green energy to compete with other investment opportunities and must play a bigger role in the company's future. The costs must come down as a consequence.
In the past year, the stock has hit a 52-week low of $18.39 and 52-week high of $29.67. Its stock has been showing support around $24.43 and resistance in the $25.29 range. The technical indicators for the stock are Bearish.
Statoil ASA (Statoil), formerly StatoilHydro ASA is an integrated energy company based in Norway with locations in approximately 40 other countries worldwide.
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