Better Collective A/S Stock Forecast
Better Collective A/S stock upgraded from Hold/Accumulate to Buy Candidate after Tuesday trading session.
(Updated on Apr 23, 2024)
The Better Collective A/S stock price gained 2.47% on the last trading day (Tuesday, 23rd Apr 2024), rising from kr283.00 to kr290.00. During the last trading day the stock fluctuated 2.11% from a day low at kr284.50 to a day high of kr290.50. The price has risen in 7 of the last 10 days and is up by 3.39% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 7 thousand more shares were traded than the day before. In total, 32 thousand shares were bought and sold for approximately kr9.24 million.
The stock lies in the middle of a 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 -4.14% during the next 3 months and, with a 90% probability hold a price between kr252.32 and kr299.97 at the end of this 3-month period.
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BETCO.ST Signals & Forecast
The Better Collective A/S 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 kr283.64 and kr283.31. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical 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 Monday, April 08, 2024, and so far it has fallen -2.85%. 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).
Support, Risk & Stop-loss for Better Collective A/S stock
Better Collective A/S finds support from accumulated volume at kr285.50 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 kr6.00 (2.11%) between high and low. For the last week, the stock has had daily average volatility of 2.64%.
Our recommended stop-loss: kr276.74 (-4.57%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 11 days ago.)
Trading Expectations (BETCO.ST) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Better Collective A/S to open at kr288.33, and during the day (based on 14 day Average True Range), to move between kr281.95 and kr298.05, which gives a possible trading interval of +/-kr8.05 (+/-2.78%) up or down from last closing price. If Better Collective A/S takes out the full calculated possible swing range there will be an estimated 5.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr294.00 (1.38%) than the support at kr285.50 (1.55%), 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 Better Collective A/S stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for 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: 1.086 Buy Candidate Upgraded
Predicted Opening Price for Better Collective A/S of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| kr288.33 ( 0.575%) | kr290.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BETCO.ST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 294.33 | 1.49 % | |
| R2 | 292.04 | 0.704 % | ||
| R1 | 290.63 | 0.216 % | ||
| Current price: | 290.00 | |||
| Support | S1 | 286.04 | -1.37 % | |
| S2 | 284.63 | -1.85 % | ||
| S3 | 282.33 | -2.64 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 304.00 | 4.83 % | |
| R2 | 300.00 | 3.45 % | ||
| R1 | 294.00 | 1.38 % | ||
| Current price | 290.00 | |||
| Support | S1 | 285.50 | -1.55% | |
| S2 | 283.00 | -2.41% | ||
| S3 | 280.50 | -3.28% |
FAQ
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