Cavotec SA Stock Forecast

Weaker technical forecast for Cavotec SA as stock downgraded to Hold/Accumulate.
(Updated on May 10, 2024)

CCC.ST Signals & Forecast

The Cavotec SA 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 kr16.30 and kr15.77. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 14.33%. 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). Cavotec SA has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.

Support, Risk & Stop-loss for Cavotec SA stock

On the downside, the stock finds support just below today's level from accumulated volume at kr15.50 and kr14.80. 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, Cavotec SA finds support just below today's level at kr15.50. If this is broken, then the next support from accumulated volume will be at kr14.80 and kr13.95.

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 kr0.450 (2.69%) between high and low. For the last week, the stock has had daily average volatility of 3.53%.

Our recommended stop-loss: kr16.39 (-4.41%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 16 days ago.)

Trading Expectations (CCC.ST) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect Cavotec SA to open at kr17.03, and during the day (based on 14 day Average True Range), to move between kr16.60 and kr17.70, which gives a possible trading interval of +/-kr0.552 (+/-3.22%) up or down from last closing price. If Cavotec SA takes out the full calculated possible swing range there will be an estimated 6.44% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ kr15.50, some kr1.65 (9.62%) from the current price of kr17.15, our system finds the risk reward attractive.

Is Cavotec SA stock A Buy?

Cavotec SA 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: 0.000 Hold/Accumulate Downgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Cavotec SA of Monday, May 13, 2024

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