C-Rad AB (publ) Stock Forecast
High volatility in C-Rad AB (publ) stock price on Friday which ended trading at kr48.70
(Updated on May 31, 2024)
The C-Rad AB (publ) stock price gained 7.39% on the last trading day (Friday, 31st May 2024), rising from kr45.35 to kr48.70. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 13.52% from a day low at kr44.00 to a day high of kr49.95. The price has risen in 9 of the last 10 days and is up by 22.21% 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, 81 thousand more shares were traded than the day before. In total, 253 thousand shares were bought and sold for approximately kr12.33 million.
Given the current horizontal trend, you can expect C-Rad AB (publ) stock with a 90% probability to be traded between kr37.24 and kr48.19 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. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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CRAD-B.ST Signals & Forecast
The C-Rad 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 kr43.96 and kr40.47. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, May 03, 2024, and so far it has risen 28.84%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for C-Rad AB (publ) stock
On the downside, the stock finds support just below today's level from accumulated volume at kr43.80 and kr43.00. 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, C-Rad AB (publ) finds support just below today's level at kr43.80. If this is broken, then the next support from accumulated volume will be at kr43.00 and kr41.65.
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 kr5.95 between high and low, or 13.52%. For the last week, the stock has had daily average volatility of 5.73%.
Since the C-Rad AB (publ) has been rising for 6 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
Our recommended stop-loss: kr47.00 (-3.50%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 28 days ago.)
Trading Expectations (CRAD-B.ST) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect C-Rad AB (publ) to open at kr47.55, and during the day (based on 14 day Average True Range), to move between kr46.86 and kr50.54, which gives a possible trading interval of +/-kr1.84 (+/-3.78%) up or down from last closing price. If C-Rad AB (publ) takes out the full calculated possible swing range there will be an estimated 7.55% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ kr43.80, some kr4.90 (10.06%) from the current price of kr48.70, our system finds the risk reward attractive.
Is C-Rad AB (publ) stock A Buy?
C-Rad 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: 0.000 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 C-Rad AB (publ) of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| kr47.55 ( 2.36%) | kr48.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CRAD-B.ST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 53.50 | 9.86 % | |
| R2 | 51.23 | 5.19 % | ||
| R1 | 49.82 | 2.31 % | ||
| Current price: | 48.70 | |||
| Support | S1 | 45.28 | -7.03 % | |
| S2 | 43.87 | -9.91 % | ||
| S3 | 41.60 | -14.58 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 48.70 | |||
| Support | S1 | 43.80 | -10.06% | |
| S2 | 43.00 | -11.70% | ||
| S3 | 41.65 | -14.48% |
FAQ
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