Biohit Oyj Stock Forecast
Biohit Oyj stock downgraded to Sell Candidate
(Updated on May 02, 2024)
The Biohit Oyj stock price fell by -1.24% on the last day (Thursday, 2nd May 2024) from 2.01€ to 1.99€. During the last trading day the stock fluctuated 2.27% from a day low at 1.99€ to a day high of 2.03€. The price has fallen in 6 of the last 10 days and is down by -3.17% 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 -5 thousand shares and in total, 5 thousand shares were bought and sold for approximately 9.75€ thousand.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at 1.96€ is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 7.52% during the next 3 months and, with a 90% probability hold a price between 2.11€ and 2.26€ at the end of this 3-month period.
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BIOBV.HE Signals & Forecast
There are few to no technical positive signals at the moment. The Biohit Oyj stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at 2.01€ and 2.00€. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -4.11%. 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Biohit Oyj stock
Biohit Oyj finds support from accumulated volume at 1.96€ 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 very controlled movements and therefore the general risk is considered very 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 0.0450€ between high and low, or 2.27%. For the last week the stock has had daily average volatility of 1.81%
Biohit Oyj is oversold on RSI14 (23). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BIOBV.HE) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Biohit Oyj to open at 2.00€, and during the day (based on 14 day Average True Range), to move between 1.94€ and 2.03€, which gives a possible trading interval of +/-0.0469€ (+/-2.36%) up or down from last closing price. If Biohit Oyj takes out the full calculated possible swing range there will be an estimated 4.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 2.00€ (0.76%) than the support at 1.96€ (1.26%), 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 Biohit Oyj stock A Buy?
The Biohit Oyj stock holds several negative signals and despite the positive trend, we believe Biohit Oyj will perform weakly in the next couple of days or weeks. Therefore, we 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: -4.336 Sell Candidate Downgraded
Predicted Opening Price for Biohit Oyj of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| 2.00€ ( 0.756%) | 1.99€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BIOBV.HE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.05 | 3.02 % | |
| R2 | 2.03 | 2.16 % | ||
| R1 | 2.02 | 1.62 % | ||
| Current price: | 1.99 | |||
| Support | S1 | 1.98 | -0.110 % | |
| S2 | 1.97 | -0.645 % | ||
| S3 | 1.96 | -1.51 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.02 | 1.76 % | |
| R2 | 2.01 | 1.26 % | ||
| R1 | 2.00 | 0.756 % | ||
| Current price | 1.99 | |||
| Support | S1 | 1.96 | -1.26% | |
| S2 | 1.93 | -3.02% | ||
| S3 | 1.90 | -4.28% |
BIOBV Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 15, 2014 | Apr 15, 2014 | Apr 15, 2014 | 0.723€ | 10.19% |
| 2 | Apr 09, 2013 | Apr 09, 2013 | Apr 09, 2013 | 0.237€ | 3.41% |
| 3 | Apr 12, 2012 | Apr 12, 2012 | Apr 12, 2012 | 0.80€ | 26.32% |
FAQ
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