Argeo As Stock Forecast

Argeo As stock upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.
(Updated on Jun 26, 2024)

ARGEO.OL Signals & Forecast

The Argeo As 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 kr11.43 and kr5.69. A breakdown below any of these levels will issue sell signals. 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 Friday, June 21, 2024, and so far it has fallen -6.84%. 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.

Support, Risk & Stop-loss for Argeo As stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved kr0.94 between high and low, or 6.72%. For the last week, the stock has had daily average volatility of 4.80%.

The Argeo As stock is extremely overbought on RSI14 (89). This increases the short-term risk substantially.

Our recommended stop-loss: kr13.56 (-4.22%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 89 and this increases the risk substantially. There is a sell signal from a pivot top found 5 days ago.)

Trading Expectations (ARGEO.OL) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect Argeo As to open at kr14.40, and during the day (based on 14 day Average True Range), to move between kr13.20 and kr15.12, which gives a possible trading interval of +/-kr0.96 (+/-6.81%) up or down from last closing price. If Argeo As takes out the full calculated possible swing range there will be an estimated 13.63% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ kr14.80, some kr0.640 (4.52%) from the current price of kr14.16, our system finds the risk reward not very attractive.

Is Argeo As 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 Argeo As 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: 1.266 Buy Candidate Upgraded

Predicted Opening Price for Argeo As of Thursday, June 27, 2024

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