Akastor ASA Stock Forecast

Akastor ASA stock price ended at kr13.50 on Thursday, after losing 0%.
(Updated on May 16, 2024)

AKAST.OL Signals & Forecast

The Akastor 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 kr13.49 and kr12.33. A breakdown below any of these levels will issue sell signals. The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely. 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 -4.12%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 kr0.280 between high and low, or 2.09%. For the last week, the stock has had daily average volatility of 1.50%.

Our recommended stop-loss: kr12.82 (-5.01%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 9 days ago.)

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

For the upcoming trading day on Tuesday, 21st we expect Akastor ASA to open at kr13.53, and during the day (based on 14 day Average True Range), to move between kr13.16 and kr13.84, which gives a possible trading interval of +/-kr0.344 (+/-2.55%) up or down from last closing price. If Akastor ASA takes out the full calculated possible swing range there will be an estimated 5.09% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr13.60 (0.74%) than the support at kr13.00 (3.70%), 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?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Akastor ASA stock to perform well in the short-term.

Current score: 1.927 Buy Candidate Unchanged

Predicted Opening Price for Akastor ASA of Tuesday, May 21, 2024

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