Akastor ASA Stock Forecast

Akastor ASA stock downgraded to Hold/Accumulate
(Updated on Jun 19, 2024)

0IPT.L Signals & Forecast

The Akastor ASA stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at kr15.61 and kr13.00. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Monday, June 17, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Akastor ASA stock

On the downside, the stock finds support just below today's level from accumulated volume at kr14.56 and kr14.48. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Akastor ASA finds support just below today's level at kr14.56. If this is broken, then the next support from accumulated volume will be at kr14.48 and kr13.54.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved kr0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%

The Akastor ASA stock is extremely overbought on RSI14 (93). This increases the short-term risk substantially.

Our recommended stop-loss: kr16.18 (-3.14%) (This stock has low daily movements and this gives low risk. The RSI14 is 93 and this increases the risk substantially. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (0IPT.L) For The Upcoming Trading Day Of Thursday 20th

For the upcoming trading day on Thursday, 20th we expect Akastor ASA to open at kr16.70, and during the day (based on 14 day Average True Range), to move between kr16.38 and kr17.02, which gives a possible trading interval of +/-kr0.323 (+/-1.93%) up or down from last closing price. If Akastor ASA takes out the full calculated possible swing range there will be an estimated 3.86% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ kr14.56, some kr2.14 (12.81%) from the current price of kr16.70, our system finds the risk reward attractive.

Is Akastor ASA stock A Buy?

Akastor ASA holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Downgraded

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 Akastor ASA of Thursday, June 20, 2024

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