Airthings ASA Stock Forecast
Airthings ASA stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on Apr 18, 2024)
The Airthings ASA stock price gained 1.02% on the last trading day (Thursday, 18th Apr 2024), rising from kr2.95 to kr2.98. During the last trading day the stock fluctuated 2.41% from a day low at kr2.91 to a day high of kr2.98. The price has fallen in 5 of the last 10 days and is down by -0.33% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 86 thousand more shares were traded than the day before. In total, 87 thousand shares were bought and sold for approximately kr259.69 thousand.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at kr3.04 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -11.17% during the next 3 months and, with a 90% probability hold a price between kr2.41 and kr2.70 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
AIRX.OL Signals & Forecast
Mostly positive signals in the chart today. The Airthings ASA stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at kr2.95 and kr2.97. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 25, 2024, and so far it has risen 6.05%. 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). Airthings ASA has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Airthings ASA stock
Airthings ASA finds support from accumulated volume at kr2.95 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 kr0.0700 between high and low, or 2.41%. For the last week the stock has had daily average volatility of 2.13%.
Our recommended stop-loss: kr2.82 (-5.28%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 15 days ago.)
Trading Expectations (AIRX.OL) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Airthings ASA to open at kr2.96, and during the day (based on 14 day Average True Range), to move between kr2.88 and kr3.08, which gives a possible trading interval of +/-kr0.0957 (+/-3.21%) up or down from last closing price. If Airthings ASA takes out the full calculated possible swing range there will be an estimated 6.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr3.00 (0.67%) than the support at kr2.95 (1.01%), 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 Airthings ASA 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: 1.956 Buy Candidate Upgraded
Predicted Opening Price for Airthings ASA of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| kr2.96 ( 0.783%) | kr2.98 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AIRX.OL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.03 | 1.57 % | |
| R2 | 3.00 | 0.669 % | ||
| R1 | 2.98 | 0.114 % | ||
| Current price: | 2.98 | |||
| Support | S1 | 2.93 | -1.68 % | |
| S2 | 2.91 | -2.23 % | ||
| S3 | 2.89 | -3.13 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.40 | 14.09 % | |
| R2 | 3.10 | 3.86 % | ||
| R1 | 3.00 | 0.671 % | ||
| Current price | 2.98 | |||
| Support | S1 | 2.95 | -1.01% | |
| S2 | 2.95 | -1.17% | ||
| S3 | 2.81 | -5.70% |
FAQ
Click here for our free guide on how to buy Airthings ASA Stock.
