IDEX ASA Stock Forecast

IDEX ASA stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 03, 2024)

IDEX.OL Signals & Forecast

There are few to no technical positive signals at the moment. The IDEX ASA stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at kr1.92 and kr2.13. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 02, 2024, and so far it has fallen -31.65%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for IDEX ASA stock

IDEX ASA finds support from accumulated volume at kr1.82 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 kr0.145 between high and low, or 7.97%. For the last week, the stock has had daily average volatility of 7.02%.

IDEX ASA is oversold on RSI14 (18). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: kr1.78 (-4.91%) (This stock has high daily movements and this gives high risk. Low RSI14 is 18 which reduces the risk some. There is a sell signal from a pivot top found 22 days ago.)

Trading Expectations (IDEX.OL) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect IDEX ASA to open at kr1.88, and during the day (based on 14 day Average True Range), to move between kr1.68 and kr2.06, which gives a possible trading interval of +/-kr0.187 (+/-9.99%) up or down from last closing price. If IDEX ASA takes out the full calculated possible swing range there will be an estimated 19.97% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at kr1.82 (2.61%) than the resistance at kr1.99 (6.30%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is IDEX ASA stock A Buy?

IDEX ASA holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.003 Hold/Accumulate Upgraded

Predicted Opening Price for IDEX ASA of Monday, May 6, 2024

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