ArcticZymes Technologies ASA Stock Forecast
ArcticZymes Technologies ASA stock downgraded to Sell Candidate
(Updated on Jun 21, 2024)
The ArcticZymes Technologies ASA stock price fell by -4.10% on the last day (Friday, 21st Jun 2024) from kr25.60 to kr24.55. During the last trading day the stock fluctuated 5.80% from a day low at kr24.15 to a day high of kr25.55. The price has fallen in 7 of the last 10 days and is down by -2.58% for this period. Volume has increased on the last day by 49 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 64 thousand shares were bought and sold for approximately kr1.58 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -14.26% during the next 3 months and, with a 90% probability hold a price between kr17.64 and kr22.29 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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AZT.OL Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, May 13, 2024, and so far it has risen 9.11%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The ArcticZymes Technologies ASA 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 kr24.96 and kr24.97. 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). 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 ArcticZymes Technologies ASA stock
ArcticZymes Technologies ASA finds support from accumulated volume at kr24.50 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 kr1.40 (5.80%) between high and low. For the last week, the stock has had daily average volatility of 5.71%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AZT.OL) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect ArcticZymes Technologies ASA to open at kr24.75, and during the day (based on 14 day Average True Range), to move between kr23.31 and kr25.79, which gives a possible trading interval of +/-kr1.24 (+/-5.06%) up or down from last closing price. If ArcticZymes Technologies ASA takes out the full calculated possible swing range there will be an estimated 10.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr24.50 (0.20%) than the resistance at kr24.65 (0.41%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is ArcticZymes Technologies ASA stock A Buy?
ArcticZymes Technologies ASA holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -1.063 Sell Candidate Downgraded
Predicted Opening Price for ArcticZymes Technologies ASA of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| kr24.75 ( 0.81%) | kr24.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AZT.OL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 26.15 | 6.52% |
| R2 | 25.62 | 4.34% |
| R1 | 25.28 | 2.99% |
| Price | 24.55 | |
| S1 | 24.22 | -1.36% |
| S2 | 23.88 | -2.71% |
| S3 | 23.35 | -4.89% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 25.80 | 5.09% |
| R2 | 25.60 | 4.28% |
| R1 | 24.65 | 0.407% |
| Price | 24.55 | |
| S1 | 24.50 | -0.204% |
| S2 | 24.35 | -0.81% |
| S3 | 24.10 | -1.83% |
FAQ
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