Borgestad ASA Stock Forecast

Volatile ride for Borgestad ASA stock price on Thursday moving between kr0.390 and kr0.435
(Updated on May 16, 2024)

BOR.OL Signals & Forecast

The Borgestad ASA stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately kr0.430. On a fall, the stock will find some support from the long-term average at approximately kr0.373. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Friday, May 10, 2024, and so far it has fallen -4.77%. Further fall is indicated until a new bottom pivot has been found. Borgestad ASA gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for Borgestad ASA stock

On the downside, the stock finds support just below today's level from accumulated volume at kr0.360 and kr0.340. 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, Borgestad ASA finds support just below today's level at kr0.360. If this is broken, then the next support from accumulated volume will be at kr0.340 and kr0.315.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved kr0.0450 between high and low, or 11.54%. For the last week, the stock has had daily average volatility of 6.59%.

Our recommended stop-loss: kr0.402 (-4.17%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 4 days ago.)

Trading Expectations (BOR.OL) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Borgestad ASA to open at kr0.415, and during the day (based on 14 day Average True Range), to move between kr0.392 and kr0.446, which gives a possible trading interval of +/-kr0.0266 (+/-6.36%) up or down from last closing price. If Borgestad ASA takes out the full calculated possible swing range there will be an estimated 12.71% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr0.428 (2.15%) than the support at kr0.360 (14.08%), 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 Borgestad ASA stock A Buy?

Borgestad ASA 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 Buy to a Hold/Accumulate candidate.

Current score: -0.643 Hold/Accumulate Downgraded

Predicted Opening Price for Borgestad ASA of Tuesday, May 21, 2024

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