AF Gruppen ASA Stock Forecast

Weaker technical forecast for AF Gruppen ASA as stock downgraded to Sell Candidate.
(Updated on May 16, 2024)

AFG.OL Signals & Forecast

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. The AF Gruppen ASA stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at kr145.17 and kr137.98. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 10, 2024, and so far it has fallen -9.63%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. The stock had a Golden Star Signal on Monday, April 22, 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.

Support, Risk & Stop-loss for AF Gruppen ASA stock

AF Gruppen ASA finds support from accumulated volume at kr133.20 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved kr3.60 between high and low, or 2.66%. For the last week, the stock has had daily average volatility of 4.14%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (AFG.OL) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect AF Gruppen ASA to open at kr136.40, and during the day (based on 14 day Average True Range), to move between kr131.30 and kr139.10, which gives a possible trading interval of +/-kr3.90 (+/-2.88%) up or down from last closing price. If AF Gruppen ASA takes out the full calculated possible swing range there will be an estimated 5.76% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr136.00 (0.59%) than the support at kr133.20 (1.48%), 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 AF Gruppen ASA stock A Buy?

The AF Gruppen ASA stock holds several negative signals and despite the positive trend, we believe AF Gruppen ASA will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. 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 Sell candidate.

Current score: -4.494 Sell Candidate Downgraded

Predicted Opening Price for AF Gruppen ASA of Tuesday, May 21, 2024

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