Electromagnetic Geoservices ASA Stock Forecast
Green day on Tuesday for Electromagnetic Geoservices ASA stock after gaining 1.38%
(Updated on Apr 30, 2024)
The Electromagnetic Geoservices ASA stock price gained 1.38% on the last trading day (Tuesday, 30th Apr 2024), rising from kr2.17 to kr2.20. During the last trading day the stock fluctuated 6.16% from a day low at kr2.11 to a day high of kr2.24. The price has fallen in 6 of the last 10 days and is down by -1.79% for this period. Volume fell on the last day by -94 thousand shares and in total, 65 thousand shares were bought and sold for approximately kr142.09 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 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 -14.39% during the next 3 months and, with a 90% probability hold a price between kr1.84 and kr2.01 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.
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EMGS.OL Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 29, 2024, and so far it has risen 1.38%. 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 Electromagnetic Geoservices ASA 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 kr2.22 and kr2.25. 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 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 Electromagnetic Geoservices ASA stock
Electromagnetic Geoservices ASA finds support from accumulated volume at kr2.18 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have controlled movements and therefore the general risk is considered 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 kr0.130 between high and low, or 6.16%. For the last week the stock has had daily average volatility of 4.63%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EMGS.OL) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Electromagnetic Geoservices ASA to open at kr2.18, and during the day (based on 14 day Average True Range), to move between kr2.10 and kr2.30, which gives a possible trading interval of +/-kr0.0960 (+/-4.37%) up or down from last closing price. If Electromagnetic Geoservices ASA takes out the full calculated possible swing range there will be an estimated 8.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr2.18 (0.91%) than the resistance at kr2.60 (18.18%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Electromagnetic Geoservices ASA will release earnings BMO on Thursday, May 09, 2024. We will update the financials statements for Electromagnetic Geoservices ASA, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.83% in the first trading day after earnings release.
Is Electromagnetic Geoservices ASA stock A Buy?
Electromagnetic Geoservices ASA holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.599 Sell Candidate Unchanged
Predicted Opening Price for Electromagnetic Geoservices ASA of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| kr2.18 ( 0.758%) | kr2.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EMGS.OL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.31 | 5.15 % | |
| R2 | 2.26 | 2.89 % | ||
| R1 | 2.23 | 1.50 % | ||
| Current price: | 2.20 | |||
| Support | S1 | 2.13 | -3.01 % | |
| S2 | 2.10 | -4.41 % | ||
| S3 | 2.05 | -6.67 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.69 | 22.27 % | |
| R2 | 2.64 | 20.00 % | ||
| R1 | 2.60 | 18.18 % | ||
| Current price | 2.20 | |||
| Support | S1 | 2.18 | -0.91% | |
| S2 | 2.17 | -1.36% | ||
| S3 | 0 | . |
FAQ
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