EKF Diagnostics Holdings plc Stock Forecast

Red day on Wednesday for EKF Diagnostics Holdings plc
(Updated on Jun 19, 2024)

EKF.L Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 0.300%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The EKF Diagnostics Holdings plc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at £28.59 and £30.65. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for EKF Diagnostics Holdings plc stock

On the downside, the stock finds support just below today's level from accumulated volume at £26.50 and £25.80. 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, EKF Diagnostics Holdings plc finds support just below today's level at £26.50. If this is broken, then the next support from accumulated volume will be at £25.80 and £23.60.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved £0 between high and low, or 0%. For the last week the stock has had daily average volatility of 2.91%

EKF Diagnostics Holdings plc is oversold on RSI14 (12). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (EKF.L) For The Upcoming Trading Day Of Thursday 20th

For the upcoming trading day on Thursday, 20th we expect EKF Diagnostics Holdings plc to open at £28.35, and during the day (based on 14 day Average True Range), to move between £27.22 and £29.48, which gives a possible trading interval of +/-£1.13 (+/-3.99%) up or down from last closing price. If EKF Diagnostics Holdings plc takes out the full calculated possible swing range there will be an estimated 7.97% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £29.60 (4.41%) than the support at £26.50 (6.53%), 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 EKF Diagnostics Holdings plc stock A Buy?

The EKF Diagnostics Holdings plc stock holds several negative signals and despite the positive trend, we believe EKF Diagnostics Holdings plc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -3.294 Sell Candidate Unchanged

Predicted Opening Price for EKF Diagnostics Holdings plc of Thursday, June 20, 2024

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