Granges AB (publ) Stock Forecast

Granges AB (publ) stock upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.
(Updated on May 15, 2024)

GRNG.ST Signals & Forecast

The Granges AB (publ) stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately kr137.41. On a fall, the stock will find some support from the long-term average at approximately kr123.91. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Tuesday, May 14, 2024, and so far it has fallen -1.44%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

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

On the downside, the stock finds support just below today's level from accumulated volume at kr119.40 and kr108.90. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Granges AB (publ) finds support just below today's level at kr119.40. If this is broken, then the next support from accumulated volume will be at kr108.90 and kr108.00.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved kr3.90 between high and low, or 2.85%. For the last week, the stock has had daily average volatility of 2.07%.

The Granges AB (publ) stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: kr131.91 (-3.79%) (This stock has high daily movements and this gives high risk. The RSI14 is 88 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (GRNG.ST) For The Upcoming Trading Day Of Thursday 16th

For the upcoming trading day on Thursday, 16th we expect Granges AB (publ) to open at kr138.20, and during the day (based on 14 day Average True Range), to move between kr133.98 and kr140.22, which gives a possible trading interval of +/-kr3.12 (+/-2.28%) up or down from last closing price. If Granges AB (publ) takes out the full calculated possible swing range there will be an estimated 4.55% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr138.00 (0.66%) than the support at kr119.40 (12.91%), 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 Granges AB (publ) stock 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 Granges AB (publ) 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: 2.820 Buy Candidate Upgraded

Predicted Opening Price for Granges AB (publ) of Thursday, May 16, 2024

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