Autostore Holdings Ltd. Stock Forecast
Autostore Holdings Ltd. stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 28, 2024)
The Autostore Holdings Ltd. stock price gained 0.480% on the last trading day (Friday, 28th Jun 2024), rising from kr12.50 to kr12.56. During the last trading day the stock fluctuated 2.34% from a day low at kr12.41 to a day high of kr12.70. The price has fallen in 7 of the last 10 days and is down by -16.77% for this period. Volume fell on the last day by -187 thousand shares and in total, 4 million shares were bought and sold for approximately kr50.50 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at kr12.26 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -15.84% during the next 3 months and, with a 90% probability hold a price between kr10.32 and kr11.88 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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AUTO.OL Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, June 26, 2024, and so far it has risen 0.722%. Further rise is indicated until a new top pivot has been found. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Autostore Holdings Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at kr12.90 and kr14.46. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Autostore Holdings Ltd. stock
Autostore Holdings Ltd. finds support from accumulated volume at kr12.50 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 kr0.290 between high and low, or 2.34%. For the last week, the stock has had daily average volatility of 3.89%.
Our recommended stop-loss: kr11.81 (-5.96%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (AUTO.OL) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Autostore Holdings Ltd. to open at kr12.56, and during the day (based on 14 day Average True Range), to move between kr11.93 and kr13.19, which gives a possible trading interval of +/-kr0.633 (+/-5.04%) up or down from last closing price. If Autostore Holdings Ltd. takes out the full calculated possible swing range there will be an estimated 10.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr12.50 (0.48%) than the resistance at kr13.13 (4.54%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Autostore Holdings Ltd. stock A Buy?
Autostore Holdings Ltd. 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.428 Hold/Accumulate Upgraded
Predicted Opening Price for Autostore Holdings Ltd. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| kr12.56 ( 0.0265%) | kr12.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AUTO.OL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.85 | 2.28% |
| R2 | 12.74 | 1.40% |
| R1 | 12.67 | 0.86% |
| Price | 12.56 | |
| S1 | 12.45 | -0.91% |
| S2 | 12.38 | -1.45% |
| S3 | 12.27 | -2.34% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 15.00 | 19.43% |
| R2 | 14.87 | 18.39% |
| R1 | 13.13 | 4.54% |
| Price | 12.56 | |
| S1 | 12.50 | -0.478% |
| S2 | 12.47 | -0.717% |
| S3 | 0 | - |
FAQ
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