Olink Holding AB (publ) Stock Forecast
Olink Holding AB (publ) stock price down 0.0434% on Friday
(Updated on May 03, 2024)
The Olink Holding AB (publ) stock price fell by -0.0434% on the last day (Friday, 3rd May 2024) from $23.02 to $23.01. During the last trading day the stock fluctuated 1.92% from a day low at $22.90 to a day high of $23.34. The price has risen in 6 of the last 10 days and is up by 5.21% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -64 thousand shares and in total, 228 thousand shares were bought and sold for approximately $5.25 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -4.72% during the next 3 months and, with a 90% probability hold a price between $19.89 and $22.77 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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OLK Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Olink Holding AB (publ) stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $23.22. On a fall, the stock will find some support from the short-term average at $23.00. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -1.46%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
A buy signal from a double bottom formation was found on Friday, April 19, 2024 and based on theory for this formation the price should go up by 15.32% to $26.54 within 39 trading days since signal was issued (Monday, May 06, 2024).
Support, Risk & Stop-loss for Olink Holding AB (publ) stock
Olink Holding AB (publ) finds support from accumulated volume at $22.74 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.440 (1.92%) between high and low. For the last week, the stock has had daily average volatility of 2.20%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OLK) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Olink Holding AB (publ) to open at $23.08, and during the day (based on 14 day Average True Range), to move between $22.54 and $23.48, which gives a possible trading interval of +/-$0.468 (+/-2.03%) up or down from last closing price. If Olink Holding AB (publ) takes out the full calculated possible swing range there will be an estimated 4.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $22.74 (1.17%) than the resistance at $23.29 (1.22%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Olink Holding AB (publ) will release earnings BMO on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.120. We will update the financials statements for Olink Holding AB (publ), that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 10.03% in the first trading day after earnings release.
Is Olink Holding AB (publ) stock A Buy?
Olink Holding AB (publ) holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.367 Sell Candidate Unchanged
Predicted Opening Price for Olink Holding AB (publ) of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $23.08 ( 0.304%) | $23.01 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OLK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.52 | 2.22 % | |
| R2 | 23.35 | 1.49 % | ||
| R1 | 23.25 | 1.03 % | ||
| Current price: | 23.01 | |||
| Support | S1 | 22.91 | -0.426 % | |
| S2 | 22.81 | -0.88 % | ||
| S3 | 22.64 | -1.61 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.53 | 6.61 % | |
| R2 | 24.06 | 4.56 % | ||
| R1 | 23.29 | 1.22 % | ||
| Current price | 23.01 | |||
| Support | S1 | 22.74 | -1.17% | |
| S2 | 22.01 | -4.35% | ||
| S3 | 21.99 | -4.43% |
FAQ
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