Edda Wind Asa Stock Forecast
Edda Wind Asa stock price down 0.441% on Friday
(Updated on Jun 28, 2024)
The Edda Wind Asa stock price fell by -0.441% on the last day (Friday, 28th Jun 2024) from kr22.70 to kr22.60. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 4.04% from a day low at kr22.30 to a day high of kr23.20. The price has fallen in 6 of the last 10 days and is down by -1.74% for this period. Volume has increased on the last day by 250 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 397 thousand shares were bought and sold for approximately kr8.98 million.
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 -7.37% during the next 3 months and, with a 90% probability hold a price between kr20.28 and kr22.14 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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EWIND.OL Signals & Forecast
There are few to no technical positive signals at the moment. The Edda Wind 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 kr23.27 and kr23.78. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 29, 2024, and so far it has fallen -11.37%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Edda Wind Asa stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved kr0.90 between high and low, or 4.04%. For the last week, the stock has had daily average volatility of 4.37%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EWIND.OL) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Edda Wind Asa to open at kr22.70, and during the day (based on 14 day Average True Range), to move between kr21.75 and kr23.45, which gives a possible trading interval of +/-kr0.85 (+/-3.77%) up or down from last closing price. If Edda Wind Asa takes out the full calculated possible swing range there will be an estimated 7.55% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ kr23.20, some kr0.600 (2.65%) from the current price of kr22.60, our system finds the risk reward not very attractive.
Is Edda Wind Asa stock A Buy?
Edda Wind 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: -5.162 Strong Sell Candidate Unchanged
Predicted Opening Price for Edda Wind Asa of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| kr22.70 ( 0.442%) | kr22.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EWIND.OL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 23.60 | 4.42% |
| R2 | 23.26 | 2.90% |
| R1 | 23.04 | 1.96% |
| Price | 22.60 | |
| S1 | 22.36 | -1.08% |
| S2 | 22.14 | -2.02% |
| S3 | 21.80 | -3.54% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 25.20 | 11.50% |
| R2 | 23.50 | 3.98% |
| R1 | 23.20 | 2.65% |
| Price | 22.60 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
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