Adevinta ASA Stock Forecast
Stronger technical forecast for Adevinta ASA stock price after Thursday trading.
(Updated on May 16, 2024)
The Adevinta ASA stock price gained 0.176% on the last trading day (Thursday, 16th May 2024), rising from kr113.80 to kr114.00. During the last trading day the stock fluctuated 0.352% from a day low at kr113.60 to a day high of kr114.00. The price has risen in 6 of the last 10 days and is up by 0.53% over the past 2 weeks. Volume fell on the last day by -35 thousand shares and in total, 19 thousand shares were bought and sold for approximately kr2.20 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Adevinta ASA stock with a 90% probability to be traded between kr113.71 and kr115.23 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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ADE.OL Signals & Forecast
Mostly positive signals in the chart today. The Adevinta 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 kr113.86 and kr113.78. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 29, 2024, and so far it has risen 0.97%. 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. The stock had a Golden Star Signal on Monday, May 06, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Monday, May 06, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
A buy signal from a double bottom formation was found on Monday, April 29, 2024 and based on theory for this formation the price should go up by 0.410% to kr114.47 within 36 trading days since signal was issued (Tuesday, May 21, 2024).
Support, Risk & Stop-loss for Adevinta ASA stock
Adevinta ASA finds support from accumulated volume at kr113.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved kr0.400 between high and low, or 0.352%. For the last week the stock has had daily average volatility of 0.370%.
Our recommended stop-loss: kr107.91 (-5.34%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (ADE.OL) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Adevinta ASA to open at kr113.87, and during the day (based on 14 day Average True Range), to move between kr113.31 and kr114.69, which gives a possible trading interval of +/-kr0.686 (+/-0.60%) up or down from last closing price. If Adevinta ASA takes out the full calculated possible swing range there will be an estimated 1.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr114.10 (0.09%) than the support at kr113.50 (0.44%), 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 Adevinta ASA stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Adevinta ASA stock to perform well in 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: 1.258 Buy Candidate Upgraded
Predicted Opening Price for Adevinta ASA of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| kr113.87 ( 0.117%) | kr114.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ADE.OL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 114.27 | 0.234 % | |
| R2 | 114.11 | 0.0999 % | ||
| R1 | 114.02 | 0.0171 % | ||
| Current price: | 114.00 | |||
| Support | S1 | 113.71 | -0.251 % | |
| S2 | 113.62 | -0.334 % | ||
| S3 | 113.47 | -0.468 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 114.30 | 0.263 % | |
| R2 | 114.20 | 0.175 % | ||
| R1 | 114.10 | 0.0877 % | ||
| Current price | 114.00 | |||
| Support | S1 | 113.50 | -0.439% | |
| S2 | 113.40 | -0.526% | ||
| S3 | 113.10 | -0.789% |
FAQ
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