Bactiguard Holding AB (publ) Stock Forecast

Weaker technical forecast for Bactiguard Holding AB (publ) as stock downgraded to Hold/Accumulate.
(Updated on May 17, 2024)

BACTI-B.ST Signals & Forecast

The Bactiguard Holding 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 kr70.29 and kr70.17. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 6.61%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point".

Support, Risk & Stop-loss for Bactiguard Holding AB (publ) stock

Bactiguard Holding AB (publ) finds support from accumulated volume at kr69.00 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 kr1.20 (1.72%) between high and low. For the last week, the stock has had daily average volatility of 3.55%.

Our recommended stop-loss: kr66.95 (-5.71%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 19 days ago.)

Trading Expectations (BACTI-B.ST) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Bactiguard Holding AB (publ) to open at kr70.60, and during the day (based on 14 day Average True Range), to move between kr68.13 and kr73.87, which gives a possible trading interval of +/-kr2.87 (+/-4.04%) up or down from last closing price. If Bactiguard Holding AB (publ) takes out the full calculated possible swing range there will be an estimated 8.07% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr71.20 (0.28%) than the support at kr69.00 (2.82%), 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 Bactiguard Holding AB (publ) stock A Buy?

Bactiguard Holding AB (publ) holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. 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 Hold/Accumulate candidate.

Current score: 0.422 Hold/Accumulate Downgraded

Predicted Opening Price for Bactiguard Holding AB (publ) of Monday, May 20, 2024

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