Elliptic Laboratories AS Stock Forecast
Green day on Tuesday for Elliptic Laboratories AS stock after gaining 0.384%
(Updated on Jul 02, 2024)
The Elliptic Laboratories AS stock price gained 0.384% on the last trading day (Tuesday, 2nd Jul 2024), rising from kr10.42 to kr10.46. During the last trading day the stock fluctuated 2.13% from a day low at kr10.34 to a day high of kr10.56. The price has been going up and down for this period, and there has been a -7.43% loss for the last 2 weeks. Volume fell on the last day by -151 thousand shares and in total, 95 thousand shares were bought and sold for approximately kr997.52 thousand. 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 middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -27.88% during the next 3 months and, with a 90% probability hold a price between kr6.41 and kr10.15 at the end of this 3-month period. 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ELABS.OL Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 10.69%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Elliptic Laboratories AS stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at kr12.70. On a fall, the stock will find some support from the short-term average at kr10.14. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Elliptic Laboratories AS stock
On the downside, the stock finds support just below today's level from accumulated volume at kr9.91 and kr9.54. 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, Elliptic Laboratories AS finds support just below today's level at kr9.91. If this is broken, then the next support from accumulated volume will be at kr9.54 and kr9.45.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved kr0.220 between high and low, or 2.13%. For the last week the stock has had daily average volatility of 5.86%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ELABS.OL) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Elliptic Laboratories AS to open at kr10.45, and during the day (based on 14 day Average True Range), to move between kr9.81 and kr11.11, which gives a possible trading interval of +/-kr0.651 (+/-6.22%) up or down from last closing price. If Elliptic Laboratories AS takes out the full calculated possible swing range there will be an estimated 12.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr10.56 (0.96%) than the support at kr9.91 (5.26%), 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 Elliptic Laboratories AS stock A Buy?
Elliptic Laboratories AS holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -3.815 Sell Candidate Unchanged
Predicted Opening Price for Elliptic Laboratories AS of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| kr10.45 ( 0.0637%) | kr10.46 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ELABS.OL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.67 | 2.04% |
| R2 | 10.59 | 1.24% |
| R1 | 10.54 | 0.740% |
| Price | 10.46 | |
| S1 | 10.37 | -0.87% |
| S2 | 10.32 | -1.36% |
| S3 | 10.23 | -2.17% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.50 | 19.50% |
| R2 | 12.06 | 15.30% |
| R1 | 10.56 | 0.96% |
| Price | 10.46 | |
| S1 | 9.91 | -5.26% |
| S2 | 9.54 | -8.80% |
| S3 | 9.45 | -9.66% |
FAQ
Click here for our free guide on how to buy Elliptic Laboratories AS Stock.
