IDEX ASA Stock Forecast
Green day on Tuesday for IDEX ASA stock after gaining 0.491%
(Updated on May 21, 2024)
The IDEX ASA stock price gained 0.491% on the last trading day (Tuesday, 21st May 2024), rising from kr1.59 to kr1.60. During the last trading day the stock fluctuated 4.50% from a day low at kr1.55 to a day high of kr1.62. The price has fallen in 6 of the last 10 days and is down by -15.56% for this period. Volume fell on the last day by -33 million shares and in total, 1 million shares were bought and sold for approximately kr1.97 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at kr1.51 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 11.55% during the next 3 months and, with a 90% probability hold a price between kr1.68 and kr3.24 at the end of this 3-month period.
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IDEX.OL Signals & Forecast
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 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 kr1.69 and kr2.11. 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 -41.63%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for IDEX ASA stock
IDEX ASA finds support from accumulated volume at kr1.59 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 kr0.0698 between high and low, or 4.50%. For the last week, the stock has had daily average volatility of 6.68%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (IDEX.OL) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect IDEX ASA to open at kr1.59, and during the day (based on 14 day Average True Range), to move between kr1.42 and kr1.77, which gives a possible trading interval of +/-kr0.176 (+/-11.01%) up or down from last closing price. If IDEX ASA takes out the full calculated possible swing range there will be an estimated 22.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr1.59 (0.49%) than the resistance at kr1.76 (10.46%), 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?
The IDEX ASA stock holds several negative signals and despite the positive trend, we believe IDEX ASA will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.104 Sell Candidate Unchanged
Predicted Opening Price for IDEX ASA of Wednesday, May 22, 2024
| Fair opening price May 22, 2024 | Current price |
|---|---|
| kr1.59 ( 0.455%) | kr1.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IDEX.OL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.66 | 3.92 % | |
| R2 | 1.63 | 2.25 % | ||
| R1 | 1.62 | 1.22 % | ||
| Current price: | 1.60 | |||
| Support | S1 | 1.56 | -2.13 % | |
| S2 | 1.55 | -3.16 % | ||
| S3 | 1.52 | -4.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.84 | 15.05 % | |
| R2 | 1.82 | 14.05 % | ||
| R1 | 1.76 | 10.46 % | ||
| Current price | 1.60 | |||
| Support | S1 | 1.59 | -0.489% | |
| S2 | 1.43 | -10.14% | ||
| S3 | 1.34 | -16.34% |
FAQ
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