BioPorto A/S Stock Forecast
Volatile ride for BioPorto A/S stock price on Wednesday moving between kr1.50 and kr1.74
(Updated on May 08, 2024)
The BioPorto A/S stock price gained 11.35% on the last trading day (Wednesday, 8th May 2024), rising from kr1.46 to kr1.63. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 16.15% from a day low at kr1.50 to a day high of kr1.74. The price has risen in 9 of the last 10 days and is up by 32.57% 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, 3 million more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately kr7.10 million.
Given the current short-term trend, the stock is expected to fall -31.52% during the next 3 months and, with a 90% probability hold a price between kr0.734 and kr1.11 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BIOPOR.CO Signals & Forecast
The BioPorto 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 kr1.40 and kr1.31. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 33.22%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for BioPorto A/S stock
On the downside, the stock finds support just below today's level from accumulated volume at kr1.54 and kr1.46. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, BioPorto A/S finds support just below today's level at kr1.54. If this is broken, then the next support from accumulated volume will be at kr1.46 and kr1.38.
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 kr0.242 between high and low, or 16.15%. For the last week, the stock has had daily average volatility of 7.95%.
The BioPorto A/S stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: kr1.58 (-3.20%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 90 and this increases the risk substantially. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (BIOPOR.CO) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect BioPorto A/S to open at kr1.62, and during the day (based on 14 day Average True Range), to move between kr1.55 and kr1.70, which gives a possible trading interval of +/-kr0.0735 (+/-4.51%) up or down from last closing price. If BioPorto A/S takes out the full calculated possible swing range there will be an estimated 9.03% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr1.64 (0.61%) than the support at kr1.54 (5.65%), 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 BioPorto A/S stock A Buy?
BioPorto A/S 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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for BioPorto A/S of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| kr1.62 ( 0.369%) | kr1.63 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BIOPOR.CO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.86 | 14.50 % | |
| R2 | 1.77 | 8.82 % | ||
| R1 | 1.71 | 5.31 % | ||
| Current price: | 1.63 | |||
| Support | S1 | 1.53 | -6.05 % | |
| S2 | 1.47 | -9.56 % | ||
| S3 | 1.38 | -15.23 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.73 | 6.27 % | |
| R2 | 1.70 | 4.42 % | ||
| R1 | 1.64 | 0.614 % | ||
| Current price | 1.63 | |||
| Support | S1 | 1.54 | -5.65% | |
| S2 | 1.46 | -10.32% | ||
| S3 | 1.38 | -15.23% |
FAQ
Click here for our free guide on how to buy BioPorto A/S Stock.
