Bergenbio ASA Stock Forecast
Red day on Wednesday for Bergenbio ASA
(Updated on May 08, 2024)
The Bergenbio ASA stock price fell by -1.58% on the last day (Wednesday, 8th May 2024) from kr0.139 to kr0.137. During the last trading day the stock fluctuated 5.93% from a day low at kr0.135 to a day high of kr0.143. The price has fallen in 8 of the last 10 days and is down by -12.74% for this period. 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 -39 million shares and in total, 75 million shares were bought and sold for approximately kr10.22 million.
The stock lies the upper part of a very 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 kr0.143 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 -42.04% during the next 3 months and, with a 90% probability hold a price between kr0.0596 and kr0.0830 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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BGBIO.OL Signals & Forecast
There are few to no technical positive signals at the moment. The Bergenbio 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 kr0.144 and kr0.163. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -30.10%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Bergenbio ASA stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved kr0.0080 between high and low, or 5.93%. For the last week, the stock has had daily average volatility of 8.58%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BGBIO.OL) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Bergenbio ASA to open at kr0.138, and during the day (based on 14 day Average True Range), to move between kr0.124 and kr0.150, which gives a possible trading interval of +/-kr0.0128 (+/-9.35%) up or down from last closing price. If Bergenbio ASA takes out the full calculated possible swing range there will be an estimated 18.70% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ kr0.139, some kr0.0022 (1.61%) from the current price of kr0.137, our system finds the risk reward not very attractive.
Is Bergenbio ASA stock A Buy?
Bergenbio 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.
Current score: -6.506 Strong Sell Candidate Unchanged
Predicted Opening Price for Bergenbio ASA of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| kr0.138 ( 0.97%) | kr0.137 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BGBIO.OL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.146 | 6.81 % | |
| R2 | 0.143 | 4.58 % | ||
| R1 | 0.141 | 3.20 % | ||
| Current price: | 0.137 | |||
| Support | S1 | 0.135 | -1.26 % | |
| S2 | 0.133 | -2.64 % | ||
| S3 | 0.130 | -4.87 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.153 | 11.53 % | |
| R2 | 0.150 | 9.78 % | ||
| R1 | 0.139 | 1.61 % | ||
| Current price | 0.137 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
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