Byggma ASA Stock Forecast

Byggma ASA stock price ended at kr18.55 on Wednesday, after losing 0.269%.
(Updated on May 08, 2024)

BMA.OL Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, May 06, 2024, and so far it has risen 0.542%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Byggma ASA 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 kr18.83 and kr18.60. A break-up above any of these levels will issue buy signals. 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 Byggma ASA stock

Byggma ASA finds support from accumulated volume at kr18.50 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 controlled movements and therefore the general risk is considered 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 kr0 between high and low, or 0%. For the last week the stock has had daily average volatility of 2.60%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (BMA.OL) For The Upcoming Trading Day Of Friday 10th

For the upcoming trading day on Friday, 10th we expect Byggma ASA to open at kr18.55, and during the day (based on 14 day Average True Range), to move between kr17.95 and kr19.15, which gives a possible trading interval of +/-kr0.601 (+/-3.24%) up or down from last closing price. If Byggma ASA takes out the full calculated possible swing range there will be an estimated 6.48% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at kr18.50 (0.27%) than the resistance at kr18.75 (1.08%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Byggma ASA stock A Buy?

Byggma ASA holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -2.465 Sell Candidate Unchanged

Predicted Opening Price for Byggma ASA of Friday, May 10, 2024

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