Boozt AB (publ) Stock Forecast
Boozt AB (publ) stock upgraded to Buy Candidate.
(Updated on May 03, 2024)
The Boozt AB (publ) stock price gained 4.90% on the last trading day (Friday, 3rd May 2024), rising from kr122.50 to kr128.50. During the last trading day the stock fluctuated 5.20% from a day low at kr123.00 to a day high of kr129.40. The price has been going up and down for this period, and there has been a 0.31% gain for the last 2 weeks. Volume fell on the last day by -19 thousand shares and in total, 104 thousand shares were bought and sold for approximately kr13.41 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Boozt AB (publ) stock with a 90% probability to be traded between kr120.09 and kr141.23 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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BOOZT.ST Signals & Forecast
Mostly positive signals in the chart today. The Boozt AB (publ) stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at kr124.50 and kr128.41. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 7.44%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Boozt AB (publ) stock
Boozt AB (publ) finds support from accumulated volume at kr127.40 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 kr6.40 (5.20%) between high and low. For the last week, the stock has had daily average volatility of 5.79%.
Our recommended stop-loss: kr124.18 (-3.36%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (BOOZT.ST) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Boozt AB (publ) to open at kr126.97, and during the day (based on 14 day Average True Range), to move between kr123.29 and kr133.71, which gives a possible trading interval of +/-kr5.21 (+/-4.06%) up or down from last closing price. If Boozt AB (publ) takes out the full calculated possible swing range there will be an estimated 8.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr129.50 (0.78%) than the support at kr127.40 (0.86%), 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 Boozt AB (publ) stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Boozt AB (publ) stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.167 Buy Candidate Upgraded
Predicted Opening Price for Boozt AB (publ) of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| kr126.97 ( 1.19%) | kr128.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BOOZT.ST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 133.37 | 3.79 % | |
| R2 | 130.92 | 1.88 % | ||
| R1 | 129.41 | 0.709 % | ||
| Current price: | 128.50 | |||
| Support | S1 | 124.52 | -3.10 % | |
| S2 | 123.01 | -4.27 % | ||
| S3 | 120.57 | -6.17 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 133.30 | 3.74 % | |
| R2 | 131.90 | 2.65 % | ||
| R1 | 129.50 | 0.778 % | ||
| Current price | 128.50 | |||
| Support | S1 | 127.40 | -0.86% | |
| S2 | 124.90 | -2.80% | ||
| S3 | 122.30 | -4.82% |
FAQ
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