Camurus AB (publ) Stock Forecast
Green day on Friday for Camurus AB (publ) stock after gaining 0.179%
(Updated on May 17, 2024)
The Camurus AB (publ) stock price gained 0.179% on the last trading day (Friday, 17th May 2024), rising from kr560.00 to kr561.00. During the last trading day the stock fluctuated 4.31% from a day low at kr545.00 to a day high of kr568.50. The price has risen in 7 of the last 10 days and is up by 13.47% 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, 22 thousand more shares were traded than the day before. In total, 72 thousand shares were bought and sold for approximately kr40.13 million.
The stock lies in the upper part of a wide and strong 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 kr569.30 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 13.77% during the next 3 months and, with a 90% probability hold a price between kr559.72 and kr647.68 at the end of this 3-month period.
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CAMX.ST Signals & Forecast
The Camurus 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 kr558.43 and kr509.55. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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 15, 2024, and so far it has fallen -1.06%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Camurus AB (publ) stock
Camurus AB (publ) finds support from accumulated volume at kr535.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 kr23.50 between high and low, or 4.31%. For the last week, the stock has had daily average volatility of 2.63%.
The Camurus AB (publ) 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: kr539.79 (-3.78%) (This stock has high daily movements and this gives high risk. The RSI14 is 80 and this increases the risk substantially. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (CAMX.ST) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Camurus AB (publ) to open at kr558.17, and during the day (based on 14 day Average True Range), to move between kr542.46 and kr579.54, which gives a possible trading interval of +/-kr18.54 (+/-3.30%) up or down from last closing price. If Camurus AB (publ) takes out the full calculated possible swing range there will be an estimated 6.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr562.00 (0.18%) than the support at kr535.00 (4.63%), 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 Camurus AB (publ) stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Camurus AB (publ) stock to perform well in the short-term.
Current score: 4.165 Buy Candidate Unchanged
Predicted Opening Price for Camurus AB (publ) of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| kr558.17 ( 0.505%) | kr561.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CAMX.ST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 581.67 | 3.68 % | |
| R2 | 572.69 | 2.08 % | ||
| R1 | 567.14 | 1.10 % | ||
| Current price: | 561.00 | |||
| Support | S1 | 549.19 | -2.11 % | |
| S2 | 543.64 | -3.09 % | ||
| S3 | 534.67 | -4.69 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 567.00 | 1.07 % | |
| R2 | 564.00 | 0.535 % | ||
| R1 | 562.00 | 0.178 % | ||
| Current price | 561.00 | |||
| Support | S1 | 535.00 | -4.63% | |
| S2 | 510.50 | -9.00% | ||
| S3 | 500.00 | -10.87% |
FAQ
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