CTT Systems AB Stock Forecast

Stronger technical forecast for CTT Systems AB stock price after Friday trading.
(Updated on May 10, 2024)

CTT.ST Signals & Forecast

The CTT Systems AB 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 kr331.57. On a fall, the stock will find some support from the long-term average at approximately kr328.91. 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). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". 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, April 05, 2024, and so far it has fallen -6.50%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for CTT Systems AB stock

CTT Systems AB finds support from accumulated volume at kr329.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 kr8.00 (2.44%) between high and low. For the last week, the stock has had daily average volatility of 3.29%.

Our recommended stop-loss: kr316.60 (-4.35%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 23 days ago.)

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

For the upcoming trading day on Monday, 13th we expect CTT Systems AB to open at kr331.67, and during the day (based on 14 day Average True Range), to move between kr317.82 and kr344.18, which gives a possible trading interval of +/-kr13.18 (+/-3.98%) up or down from last closing price. If CTT Systems AB takes out the full calculated possible swing range there will be an estimated 7.96% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr333.00 (0.60%) than the support at kr329.00 (0.60%), 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 CTT Systems AB 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 CTT Systems AB 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: 1.583 Buy Candidate Upgraded

Predicted Opening Price for CTT Systems AB of Monday, May 13, 2024

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