Addnode Group AB (publ) Stock Forecast

Stronger technical forecast for Addnode Group AB (publ) stock price after Tuesday trading.
(Updated on Jun 25, 2024)

ANOD-B.ST Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Thursday, June 20, 2024, and so far it has fallen -2.49%. 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 Addnode Group AB (publ) 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 kr119.56 and kr118.73. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. The stock had a Golden Star Signal on Thursday, May 16, 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 Addnode Group AB (publ) stock

Addnode Group AB (publ) finds support from accumulated volume at kr121.20 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved kr3.00 (2.52%) between high and low. For the last week, the stock has had daily average volatility of 3.04%.

Our recommended stop-loss: kr116.47 (-4.14%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 6 days ago.)

Trading Expectations (ANOD-B.ST) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Addnode Group AB (publ) to open at kr120.97, and during the day (based on 14 day Average True Range), to move between kr117.64 and kr125.36, which gives a possible trading interval of +/-kr3.86 (+/-3.17%) up or down from last closing price. If Addnode Group AB (publ) takes out the full calculated possible swing range there will be an estimated 6.35% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at kr121.20 (0.25%) than the resistance at kr123.20 (1.40%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Addnode Group AB (publ) 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 Addnode Group AB (publ) 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: 3.427 Buy Candidate Upgraded

Predicted Opening Price for Addnode Group AB (publ) of Wednesday, June 26, 2024

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