Addtech AB (publ.) Stock Forecast

Weaker technical forecast for Addtech AB (publ.) as stock downgraded to Hold/Accumulate.
(Updated on May 20, 2024)

ADDT-B.ST Signals & Forecast

The Addtech 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 kr244.26 and kr236.50. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 12.87%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

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

On the downside, the stock finds support just below today's level from accumulated volume at kr241.20 and kr236.80. 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, Addtech AB (publ.) finds support just below today's level at kr241.20. If this is broken, then the next support from accumulated volume will be at kr236.80 and kr234.00.

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 kr6.60 between high and low, or 2.66%. For the last week, the stock has had daily average volatility of 3.19%.

Our recommended stop-loss: kr246.67 (-3.04%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 36 days ago.)

Trading Expectations (ADDT-B.ST) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Addtech AB (publ.) to open at kr252.20, and during the day (based on 14 day Average True Range), to move between kr247.38 and kr261.42, which gives a possible trading interval of +/-kr7.02 (+/-2.76%) up or down from last closing price. If Addtech AB (publ.) takes out the full calculated possible swing range there will be an estimated 5.52% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ kr241.20, some kr13.20 (5.19%) from the current price of kr254.40, our system finds the risk reward attractive.

Is Addtech AB (publ.) stock A Buy?

Addtech AB (publ.) 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 Addtech AB (publ.) of Tuesday, May 21, 2024

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