Elisa Oyj Stock Forecast

Weaker technical forecast for Elisa Oyj as stock downgraded to Sell Candidate.
(Updated on Apr 30, 2024)

ELISA.HE Signals & Forecast

The Elisa Oyj 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 42.84€. On a fall, the stock will find some support from the long-term average at approximately 42.22€. 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). 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 Tuesday, April 23, 2024, and so far it has fallen -2.13%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The stock had a Golden Star Signal on Friday, March 01, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Elisa Oyj stock

Elisa Oyj finds support from accumulated volume at 42.25€ 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 0.460€ (1.09%) between high and low. For the last week, the stock has had daily average volatility of 1.31%.

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

Trading Expectations (ELISA.HE) For The Upcoming Trading Day Of Thursday 2nd

For the upcoming trading day on Thursday, 2nd we expect Elisa Oyj to open at 42.42€, and during the day (based on 14 day Average True Range), to move between 41.51€ and 43.13€, which gives a possible trading interval of +/-0.81€ (+/-1.90%) up or down from last closing price. If Elisa Oyj takes out the full calculated possible swing range there will be an estimated 3.81% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at 42.25€ (0.17%) than the resistance at 42.63€ (0.73%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Elisa Oyj stock A Buy?

Elisa Oyj 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.

Current score: -1.663 Sell Candidate Downgraded

Predicted Opening Price for Elisa Oyj of Thursday, May 2, 2024

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