Akastor ASA Stock Forecast

Red day on Friday for Akastor ASA
(Updated on May 03, 2024)

AKAST.OL Signals & Forecast

The Akastor ASA 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 kr13.68. On a fall, the stock will find some support from the long-term average at approximately kr11.75. 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. 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. A sell signal was issued from a pivot top point on Thursday, May 02, 2024, and so far it has fallen -3.41%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The stock had a Golden Star Signal on Tuesday, July 25, 2023 in the long-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 Akastor ASA stock

Akastor ASA finds support from accumulated volume at kr13.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved kr0.700 between high and low, or 5.23%. For the last week, the stock has had daily average volatility of 3.23%.

The Akastor ASA stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: kr13.09 (-3.74%) (This stock has high daily movements and this gives high risk. The RSI14 is 78 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (AKAST.OL) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Akastor ASA to open at kr13.69, and during the day (based on 14 day Average True Range), to move between kr13.16 and kr14.04, which gives a possible trading interval of +/-kr0.444 (+/-3.26%) up or down from last closing price. If Akastor ASA takes out the full calculated possible swing range there will be an estimated 6.52% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr13.66 (0.44%) than the support at kr13.00 (4.41%), 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 Akastor ASA stock A Buy?

Akastor ASA 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.

Current score: -0.838 Hold/Accumulate Unchanged

Predicted Opening Price for Akastor ASA of Monday, May 6, 2024

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