Crayon Group Holding ASA Stock Forecast
Stronger technical forecast for Crayon Group Holding ASA stock price after Friday trading.
(Updated on May 31, 2024)
The Crayon Group Holding ASA stock price gained 1.81% on the last trading day (Friday, 31st May 2024), rising from kr110.60 to kr112.60. During the last trading day the stock fluctuated 3.94% from a day low at kr109.00 to a day high of kr113.30. The price has risen in 6 of the last 10 days and is up by 8.79% over the past 2 weeks. Volume fell on the last day by -113 thousand shares and in total, 733 thousand shares were bought and sold for approximately kr82.57 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the upper part of a very 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 kr114.28 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 51.17% during the next 3 months and, with a 90% probability hold a price between kr133.21 and kr172.76 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.
CRAYN.OL Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, May 29, 2024, and so far it has fallen -0.266%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The Crayon Group Holding ASA 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 kr110.70 and kr89.30. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Crayon Group Holding ASA stock
Crayon Group Holding ASA finds support from accumulated volume at kr110.60 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved kr4.30 between high and low, or 3.94%. For the last week, the stock has had daily average volatility of 4.55%.
Our recommended stop-loss: kr109.12 (-3.09%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (CRAYN.OL) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Crayon Group Holding ASA to open at kr111.63, and during the day (based on 14 day Average True Range), to move between kr108.45 and kr116.75, which gives a possible trading interval of +/-kr4.15 (+/-3.69%) up or down from last closing price. If Crayon Group Holding ASA takes out the full calculated possible swing range there will be an estimated 7.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr112.90 (0.27%) than the support at kr110.60 (1.78%), 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 Crayon Group Holding ASA 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 Crayon Group Holding ASA stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.687 Buy Candidate Upgraded
Predicted Opening Price for Crayon Group Holding ASA of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| kr111.63 ( 0.86%) | kr112.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CRAYN.OL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 115.93 | 2.96 % | |
| R2 | 114.29 | 1.50 % | ||
| R1 | 113.28 | 0.600 % | ||
| Current price: | 112.60 | |||
| Support | S1 | 109.99 | -2.32 % | |
| S2 | 108.98 | -3.22 % | ||
| S3 | 107.33 | -4.68 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 112.90 | 0.266 % | ||
| Current price | 112.60 | |||
| Support | S1 | 110.60 | -1.78% | |
| S2 | 102.90 | -8.61% | ||
| S3 | 100.00 | -11.19% |
FAQ
Click here for our free guide on how to buy Crayon Group Holding ASA Stock.
