Boozt AB (publ) Stock Forecast
Weaker technical forecast for Boozt AB (publ) as stock downgraded to Hold/Accumulate.
(Updated on May 23, 2024)
The Boozt AB (publ) stock price fell by -1.07% on the last day (Thursday, 23rd May 2024) from kr139.70 to kr138.20. During the last trading day the stock fluctuated 1.74% from a day low at kr137.90 to a day high of kr140.30. The price has risen in 5 of the last 10 days and is up by 4.62% over the past 2 weeks. Volume has increased on the last day by 41 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 92 thousand shares were bought and sold for approximately kr12.69 million.
The stock lies in the upper part of a wide and weak rising 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 kr142.30 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 2.12% during the next 3 months and, with a 90% probability hold a price between kr123.05 and kr145.31 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BOOZT.ST Signals & Forecast
The Boozt AB (publ) 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 kr136.30 and kr128.98. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -1.07%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Boozt AB (publ) stock
Boozt AB (publ) finds support from accumulated volume at kr133.30 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 kr2.40 between high and low, or 1.74%. For the last week, the stock has had daily average volatility of 2.22%.
Our recommended stop-loss: kr134.66 (-2.56%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 18 days ago.)
Trading Expectations (BOOZT.ST) For The Upcoming Trading Day Of Friday 24th
For the upcoming trading day on Friday, 24th we expect Boozt AB (publ) to open at kr138.80, and during the day (based on 14 day Average True Range), to move between kr134.11 and kr142.29, which gives a possible trading interval of +/-kr4.09 (+/-2.96%) up or down from last closing price. If Boozt AB (publ) takes out the full calculated possible swing range there will be an estimated 5.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr139.70 (1.09%) than the support at kr133.30 (3.55%), 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?
Boozt AB (publ) 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.
Current score: 0.490 Hold/Accumulate Downgraded
Predicted Opening Price for Boozt AB (publ) of Friday, May 24, 2024
| Fair opening price May 24, 2024 | Current price |
|---|---|
| kr138.80 ( 0.434%) | kr138.20 |
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 | 141.20 | 2.17 % | |
| R2 | 140.28 | 1.51 % | ||
| R1 | 139.72 | 1.10 % | ||
| Current price: | 138.20 | |||
| Support | S1 | 137.88 | -0.229 % | |
| S2 | 137.32 | -0.639 % | ||
| S3 | 136.40 | -1.30 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 140.50 | 1.66 % | ||
| R1 | 139.70 | 1.09 % | ||
| Current price | 138.20 | |||
| Support | S1 | 133.30 | -3.55% | |
| S2 | 127.00 | -8.10% | ||
| S3 | 124.90 | -9.62% |
FAQ
Click here for our free guide on how to buy Boozt AB (publ) Stock.
