Epiroc AB (publ) ETF Forecast

Epiroc AB (publ) ETF price ended at kr196.90 on Friday, after losing 0%.
(Updated on May 17, 2024)

EPI-B.ST Signals & Forecast

The Epiroc AB (publ) ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at kr196.57 and kr189.15. A breakdown below any of these levels will issue sell signals. 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 Wednesday, May 15, 2024, and so far it has fallen -0.455%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Wednesday, May 15, 2024 and based on theory for this formation the price should fall by -19.86% to kr157.80 within 24 trading days since signal was issued (Monday, May 20, 2024).

Support, Risk & Stop-loss for Epiroc AB (publ) ETF

On the downside, the ETF finds support just below today's level from accumulated volume at kr183.10 and kr181.50. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, Epiroc AB (publ) finds support just below today's level at kr183.10. If this is broken, then the next support from accumulated volume will be at kr181.50 and kr170.80.

This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved kr2.40 between high and low, or 1.23%. For the last week, the ETF has had daily average volatility of 1.43%.

The Epiroc AB (publ) ETF is extremely overbought on RSI14 (91). This increases the short-term risk substantially.

Our recommended stop-loss: kr190.32 (-3.34%) (This ETF has medium daily movements and this gives medium risk. The RSI14 is 91 and this increases the risk substantially. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (EPI-B.ST) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Epiroc AB (publ) to open at kr196.50, and during the day (based on 14 day Average True Range), to move between kr193.22 and kr200.58, which gives a possible trading interval of +/-kr3.68 (+/-1.87%) up or down from last closing price. If Epiroc AB (publ) takes out the full calculated possible swing range there will be an estimated 3.74% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr197.00 (0.05%) than the support at kr183.10 (7.01%), 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 Epiroc AB (publ) ETF 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 Epiroc AB (publ) ETF to perform well in the short-term.

Current score: 3.669 Buy Candidate Unchanged

Predicted Opening Price for Epiroc AB (publ) of Monday, May 20, 2024

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