Gentian Diagnostics AS Stock Forecast
Gentian Diagnostics AS stock downgraded to Sell Candidate
(Updated on May 21, 2024)
The Gentian Diagnostics AS stock price fell by -1.05% on the last day (Tuesday, 21st May 2024) from kr38.00 to kr37.60. During the last trading day the stock fluctuated 4.89% from a day low at kr36.80 to a day high of kr38.60. The price has fallen in 5 of the last 10 days and is down by -2.59% for this period. Volume has increased on the last day by 15 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, 17 thousand shares were bought and sold for approximately kr636.61 thousand.
The stock lies in the middle of a wide and 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 -4.76% during the next 3 months and, with a 90% probability hold a price between kr33.34 and kr38.48 at the end of this 3-month period.
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GENT.OL Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 15, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. 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. The Gentian Diagnostics AS stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at kr38.00 and kr37.85. A break-up above any of these levels will issue buy signals. Gentian Diagnostics AS gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Gentian Diagnostics AS stock
Gentian Diagnostics AS finds support from accumulated volume at kr36.80 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 kr1.80 between high and low, or 4.89%. For the last week, the stock has had daily average volatility of 2.48%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GENT.OL) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect Gentian Diagnostics AS to open at kr37.67, and during the day (based on 14 day Average True Range), to move between kr36.22 and kr38.98, which gives a possible trading interval of +/-kr1.38 (+/-3.68%) up or down from last closing price. If Gentian Diagnostics AS takes out the full calculated possible swing range there will be an estimated 7.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr37.80 (0.53%) than the support at kr36.80 (2.13%), 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 Gentian Diagnostics AS stock A Buy?
Gentian Diagnostics AS holds several negative signals and is within a wide and 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.086 Sell Candidate Downgraded
Predicted Opening Price for Gentian Diagnostics AS of Wednesday, May 22, 2024
| Fair opening price May 22, 2024 | Current price |
|---|---|
| kr37.67 ( 0.177%) | kr37.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GENT.OL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 39.47 | 4.96 % | |
| R2 | 38.78 | 3.14 % | ||
| R1 | 38.35 | 2.01 % | ||
| Current price: | 37.60 | |||
| Support | S1 | 36.98 | -1.65 % | |
| S2 | 36.55 | -2.78 % | ||
| S3 | 35.87 | -4.61 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 39.20 | 4.26 % | |
| R2 | 38.60 | 2.66 % | ||
| R1 | 37.80 | 0.532 % | ||
| Current price | 37.60 | |||
| Support | S1 | 36.80 | -2.13% | |
| S2 | 36.60 | -2.66% | ||
| S3 | 36.00 | -4.26% |
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