ArcticZymes Technologies ASA Stock Forecast
Weaker technical forecast for ArcticZymes Technologies ASA as stock downgraded to Sell Candidate.
(Updated on Jun 27, 2024)
The ArcticZymes Technologies ASA stock price fell by -3.28% on the last day (Thursday, 27th Jun 2024) from kr25.95 to kr25.10. During the last trading day the stock fluctuated 6.68% from a day low at kr24.70 to a day high of kr26.35. The price has been going up and down for this period, and there has been a 1.62% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -36 thousand shares and in total, 17 thousand shares were bought and sold for approximately kr428.03 thousand.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at kr25.80 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -11.18% during the next 3 months and, with a 90% probability hold a price between kr18.49 and kr22.92 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
The ArcticZymes Technologies ASA 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 kr25.41. On a fall, the stock will find some support from the long-term average at approximately kr24.91. 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 Tuesday, June 18, 2024, and so far it has fallen -4.02%. 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 fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for ArcticZymes Technologies ASA stock
ArcticZymes Technologies ASA finds support from accumulated volume at kr24.65 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved kr1.65 between high and low, or 6.68%. For the last week the stock has had daily average volatility of 4.71%.
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 Friday 28th
For the upcoming trading day on Friday, 28th we expect ArcticZymes Technologies ASA to open at kr25.38, and during the day (based on 14 day Average True Range), to move between kr23.89 and kr26.31, which gives a possible trading interval of +/-kr1.21 (+/-4.83%) up or down from last closing price. If ArcticZymes Technologies ASA takes out the full calculated possible swing range there will be an estimated 9.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr25.45 (1.39%) than the support at kr24.65 (1.79%), 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 ArcticZymes Technologies ASA stock A Buy?
ArcticZymes Technologies ASA holds several negative signals and we believe that 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 Hold/Accumulate to a Sell candidate.
Current score: -2.840 Sell Candidate Downgraded
Predicted Opening Price for ArcticZymes Technologies ASA of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| kr25.38 ( 1.13%) | kr25.10 |
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 | 27.03 | 7.70% |
| R2 | 26.40 | 5.19% |
| R1 | 26.01 | 3.64% |
| Price | 25.10 | |
| S1 | 24.75 | -1.38% |
| S2 | 24.36 | -2.93% |
| S3 | 23.73 | -5.44% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 25.80 | 2.79% |
| R2 | 25.60 | 1.99% |
| R1 | 25.45 | 1.39% |
| Price | 25.10 | |
| S1 | 24.65 | -1.79% |
| S2 | 24.35 | -2.99% |
| S3 | 24.10 | -3.98% |
FAQ
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