Hunter Group ASA Stock Forecast

Evaluation of Hunter Group ASA stock downgraded after the last trading session.
(Updated on May 08, 2024)

HUNT.OL Signals & Forecast

There are mixed signals in the stock today. The Hunter Group ASA 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 kr2.33. On a fall, the stock will find some support from the short-term average at kr2.27. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. A buy signal was issued from a pivot bottom point on Friday, April 26, 2024, and so far it has risen 3.84%. Further rise is indicated until a new top pivot has been found.

Support, Risk & Stop-loss for Hunter Group ASA stock

Hunter Group ASA finds support from accumulated volume at kr2.25 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved kr0.125 between high and low, or 5.63%. For the last week the stock has had daily average volatility of 3.85%.

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

Trading Expectations (HUNT.OL) For The Upcoming Trading Day Of Friday 10th

For the upcoming trading day on Friday, 10th we expect Hunter Group ASA to open at kr2.29, and during the day (based on 14 day Average True Range), to move between kr2.21 and kr2.39, which gives a possible trading interval of +/-kr0.0926 (+/-4.03%) up or down from last closing price. If Hunter Group ASA takes out the full calculated possible swing range there will be an estimated 8.05% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr2.31 (0.57%) than the support at kr2.25 (2.17%), 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 Hunter Group ASA stock A Buy?

Hunter Group ASA 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: -1.151 Sell Candidate Downgraded

Predicted Opening Price for Hunter Group ASA of Friday, May 10, 2024

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