Kitron Asa Stock Forecast

Green day on Friday for Kitron Asa stock after gaining 0.0640%
(Updated on Jun 28, 2024)

0F0J.L Signals & Forecast

Kitron Asa has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Kitron Asa stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at kr31.37 and kr32.01. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 27, 2024, and so far it has fallen -7.13%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Kitron Asa stock

Kitron Asa finds support from accumulated volume at kr31.08 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 kr0 (0%) between high and low. For the last week, the stock has had daily average volatility of 0.254%.

Our recommended stop-loss: kr29.24 (-6.46%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 39 days ago.)

Trading Expectations (0F0J.L) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Kitron Asa to open at kr31.26, and during the day (based on 14 day Average True Range), to move between kr30.83 and kr31.69, which gives a possible trading interval of +/-kr0.428 (+/-1.37%) up or down from last closing price. If Kitron Asa takes out the full calculated possible swing range there will be an estimated 2.74% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at kr31.08 (0.58%) than the resistance at kr31.58 (1.02%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Kitron Asa stock A Buy?

Kitron Asa holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Kitron Asa of Monday, July 1, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.