HMS Networks AB (publ) Stock Forecast

HMS Networks AB (publ) stock downgraded to Sell Candidate
(Updated on May 08, 2024)

HMS.ST Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 6.49%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The HMS Networks AB (publ) stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at kr437.39. On a fall, the stock will find some support from the short-term average at kr414.40. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.

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

HMS Networks AB (publ) finds support from accumulated volume at kr416.00 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 kr12.00 between high and low, or 2.96%. For the last week, the stock has had daily average volatility of 2.68%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (HMS.ST) For The Upcoming Trading Day Of Friday 10th

For the upcoming trading day on Friday, 10th we expect HMS Networks AB (publ) to open at kr413.67, and during the day (based on 14 day Average True Range), to move between kr401.64 and kr432.36, which gives a possible trading interval of +/-kr15.36 (+/-3.68%) up or down from last closing price. If HMS Networks AB (publ) takes out the full calculated possible swing range there will be an estimated 7.37% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr417.80 (0.19%) than the support at kr416.00 (0.24%), 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 HMS Networks AB (publ) stock A Buy?

HMS Networks AB (publ) holds several negative signals and we believe that 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: -1.652 Sell Candidate Downgraded

Predicted Opening Price for HMS Networks AB (publ) of Friday, May 10, 2024

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