Aker BioMarine AS Stock Forecast

Aker BioMarine AS stock price down 2.33% on Thursday
(Updated on May 16, 2024)

AKBM.OL Signals & Forecast

The Aker BioMarine AS 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 kr73.27. On a fall, the stock will find some support from the long-term average at approximately kr68.96. 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. 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 Friday, May 10, 2024, and so far it has fallen -4.93%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Aker BioMarine AS stock

On the downside, the stock finds support just below today's level from accumulated volume at kr66.00 and kr65.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Aker BioMarine AS finds support just below today's level at kr66.00. If this is broken, then the next support from accumulated volume will be at kr65.00 and kr59.70.

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 kr2.60 between high and low, or 3.71%. For the last week, the stock has had daily average volatility of 3.25%.

Our recommended stop-loss: kr68.01 (-4.62%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 4 days ago.)

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

For the upcoming trading day on Tuesday, 21st we expect Aker BioMarine AS to open at kr71.30, and during the day (based on 14 day Average True Range), to move between kr68.40 and kr74.20, which gives a possible trading interval of +/-kr2.90 (+/-4.06%) up or down from last closing price. If Aker BioMarine AS takes out the full calculated possible swing range there will be an estimated 8.12% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr72.00 (0.98%) than the support at kr66.00 (7.43%), 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 Aker BioMarine AS stock A Buy?

Aker BioMarine AS holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.813 Hold/Accumulate Unchanged

Predicted Opening Price for Aker BioMarine AS of Tuesday, May 21, 2024

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