Axactor SE Stock Forecast
Axactor SE stock upgraded to Buy Candidate.
(Updated on Apr 18, 2024)
The Axactor SE stock price fell by -0.200% on the last day (Thursday, 18th Apr 2024) from kr5.01 to kr5.00. During the last trading day the stock fluctuated 3.47% from a day low at kr4.90 to a day high of kr5.07. The price has risen in 5 of the last 10 days and is up by 4.38% 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 -230 thousand shares and in total, 73 thousand shares were bought and sold for approximately kr366.70 thousand.
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 -2.23% during the next 3 months and, with a 90% probability hold a price between kr4.42 and kr5.04 at the end of this 3-month period.
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ACR.OL Signals & Forecast
The Axactor SE stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately kr5.01. On a fall, the stock will find some support from the long-term average at approximately kr4.76. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.604%. Further rise is indicated until a new top pivot has been found. 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. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
A sell signal from a double top formation was found on Tuesday, February 13, 2024 and based on theory for this formation the price should fall by -6.92% to kr4.65 within 13 trading days since signal was issued (Friday, April 19, 2024).
Support, Risk & Stop-loss for Axactor SE stock
Axactor SE finds support from accumulated volume at kr4.94 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved kr0.170 between high and low, or 3.47%. For the last week the stock has had daily average volatility of 3.06%.
Our recommended stop-loss: kr4.73 (-5.32%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (ACR.OL) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Axactor SE to open at kr4.99, and during the day (based on 14 day Average True Range), to move between kr4.87 and kr5.13, which gives a possible trading interval of +/-kr0.125 (+/-2.50%) up or down from last closing price. If Axactor SE takes out the full calculated possible swing range there will be an estimated 5.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr5.04 (0.80%) than the support at kr4.94 (1.30%), 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 Axactor SE stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for 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: 2.726 Buy Candidate Upgraded
Predicted Opening Price for Axactor SE of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| kr4.99 ( 0.200%) | kr5.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ACR.OL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.16 | 3.20 % | |
| R2 | 5.10 | 1.90 % | ||
| R1 | 5.05 | 1.10 % | ||
| Current price: | 5.00 | |||
| Support | S1 | 4.93 | -1.50 % | |
| S2 | 4.88 | -2.30 % | ||
| S3 | 4.82 | -3.60 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.16 | 3.20 % | |
| R2 | 5.06 | 1.20 % | ||
| R1 | 5.04 | 0.80 % | ||
| Current price | 5.00 | |||
| Support | S1 | 4.94 | -1.30% | |
| S2 | 4.87 | -2.70% | ||
| S3 | 4.74 | -5.30% |
FAQ
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