Ework Group AB (publ) Stock Forecast

Stronger technical forecast for Ework Group AB (publ) stock price after Friday trading.
(Updated on May 17, 2024)

EWRK.ST Signals & Forecast

The Ework Group AB (publ) stock 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 kr138.97 and kr138.82. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, May 03, 2024, and so far it has risen 4.02%. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point".

Support, Risk & Stop-loss for Ework Group AB (publ) stock

Ework Group AB (publ) finds support from accumulated volume at kr139.00 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 very controlled movements and therefore the general risk is considered very 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 kr2.20 between high and low, or 1.59%. For the last week the stock has had daily average volatility of 1.39%

Our recommended stop-loss: kr132.79 (-5.02%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)

Trading Expectations (EWRK.ST) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Ework Group AB (publ) to open at kr139.47, and during the day (based on 14 day Average True Range), to move between kr136.25 and kr143.35, which gives a possible trading interval of +/-kr3.55 (+/-2.54%) up or down from last closing price. If Ework Group AB (publ) takes out the full calculated possible swing range there will be an estimated 5.07% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at kr139.00 (0.57%) than the resistance at kr141.80 (1.43%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Ework Group AB (publ) stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.408 Buy Candidate Upgraded

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

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