Aker Carbon Capture AS Stock Forecast
Aker Carbon Capture AS stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on May 16, 2024)
The Aker Carbon Capture AS stock price gained 2.11% on the last trading day (Thursday, 16th May 2024), rising from kr7.35 to kr7.51. During the last trading day the stock fluctuated 2.59% from a day low at kr7.35 to a day high of kr7.54. The price has risen in 6 of the last 10 days and is up by 6.99% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 300 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately kr11.58 million.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is kr7.35, a level that may pose a second chance to hit a runner. According to fan-theory kr9.97 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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ACC.OL Signals & Forecast
The Aker Carbon Capture AS 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 kr7.21 and kr7.18. 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 Wednesday, April 03, 2024, and so far it has fallen -5.00%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Aker Carbon Capture AS stock
Aker Carbon Capture AS finds support from accumulated volume at kr7.42 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 kr0.190 (2.59%) between high and low. For the last week, the stock has had daily average volatility of 2.83%.
Our recommended stop-loss: kr7.15 (-4.74%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 29 days ago.)
Trading Expectations (ACC.OL) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Aker Carbon Capture AS to open at kr7.47, and during the day (based on 14 day Average True Range), to move between kr7.25 and kr7.76, which gives a possible trading interval of +/-kr0.255 (+/-3.39%) up or down from last closing price. If Aker Carbon Capture AS takes out the full calculated possible swing range there will be an estimated 6.78% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr7.52 (0.20%) than the support at kr7.42 (1.13%), 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 Aker Carbon Capture AS stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.507 Buy Candidate Upgraded
Predicted Opening Price for Aker Carbon Capture AS of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| kr7.47 ( 0.533%) | kr7.51 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ACC.OL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.66 | 2.00 % | |
| R2 | 7.58 | 1.03 % | ||
| R1 | 7.54 | 0.434 % | ||
| Current price: | 7.51 | |||
| Support | S1 | 7.39 | -1.50 % | |
| S2 | 7.35 | -2.10 % | ||
| S3 | 7.28 | -3.06 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.90 | 5.26 % | |
| R2 | 7.82 | 4.20 % | ||
| R1 | 7.52 | 0.200 % | ||
| Current price | 7.51 | |||
| Support | S1 | 7.42 | -1.13% | |
| S2 | 7.12 | -5.13% | ||
| S3 | 6.92 | -7.79% |
FAQ
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