AcadeMedia AB (publ) Stock Forecast

AcadeMedia AB (publ) stock upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.
(Updated on May 08, 2024)

ACAD.ST Signals & Forecast

The AcadeMedia AB (publ) 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 kr53.21 and kr49.49. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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, May 06, 2024, and so far it has fallen -1.08%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for AcadeMedia AB (publ) stock

On the downside, the stock finds support just below today's level from accumulated volume at kr50.00 and kr49.38. 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, AcadeMedia AB (publ) finds support just below today's level at kr50.00. If this is broken, then the next support from accumulated volume will be at kr49.38 and kr48.70.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved kr1.50 between high and low, or 2.78%. For the last week, the stock has had daily average volatility of 3.86%.

The AcadeMedia AB (publ) stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: kr52.83 (-3.77%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 81 and this increases the risk substantially. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (ACAD.ST) For The Upcoming Trading Day Of Friday 10th

For the upcoming trading day on Friday, 10th we expect AcadeMedia AB (publ) to open at kr54.80, and during the day (based on 14 day Average True Range), to move between kr53.48 and kr56.32, which gives a possible trading interval of +/-kr1.42 (+/-2.59%) up or down from last closing price. If AcadeMedia AB (publ) takes out the full calculated possible swing range there will be an estimated 5.18% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr55.40 (0.91%) than the support at kr50.00 (8.93%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is AcadeMedia AB (publ) stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for AcadeMedia AB (publ) stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.724 Buy Candidate Upgraded

Predicted Opening Price for AcadeMedia AB (publ) of Friday, May 10, 2024

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