IDEX ASA Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
IDEX ASA stock price took a fall of -9.16% on Thursday
(Updated on May 16, 2024)
The IDEX ASA stock price fell by -9.16% on the last day (Thursday, 16th May 2024) from kr1.75 to kr1.59. During the last trading day the stock fluctuated 5.10% from a day low at kr1.56 to a day high of kr1.64. The price has fallen in 7 of the last 10 days and is down by -16.36% for this period. Volume has increased on the last day by 33 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 34 million shares were bought and sold for approximately kr54.69 million.
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 kr1.54 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 14.12% during the next 3 months and, with a 90% probability hold a price between kr1.76 and kr3.33 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). 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 kr1.71 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 -41.92%. Further fall is indicated until a new bottom pivot has been found. 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
On the downside, the stock finds support just below today's level from accumulated volume at kr1.43 and kr1.39. 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, IDEX ASA finds support just below today's level at kr1.43. If this is broken, then the next support from accumulated volume will be at kr1.39 and kr1.34.
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 kr0.0796 between high and low, or 5.10%. For the last week, the stock has had daily average volatility of 7.87%.
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 Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect IDEX ASA to open at kr1.60, and during the day (based on 14 day Average True Range), to move between kr1.40 and kr1.77, which gives a possible trading interval of +/-kr0.184 (+/-11.58%) up or down from last closing price. If IDEX ASA takes out the full calculated possible swing range there will be an estimated 23.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr1.43 (9.70%) than the resistance at kr1.76 (11.01%), 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: -3.057 Sell Candidate Unchanged
Predicted Opening Price for IDEX ASA of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| kr1.60 ( 0.495%) | kr1.59 |
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 | 1.68 | 5.51 % | |
| R2 | 1.65 | 3.59 % | ||
| R1 | 1.63 | 2.41 % | ||
| Current price: | 1.59 | |||
| Support | S1 | 1.57 | -1.42 % | |
| S2 | 1.55 | -2.60 % | ||
| S3 | 1.52 | -4.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.84 | 15.62 % | |
| R2 | 1.82 | 14.61 % | ||
| R1 | 1.76 | 11.01 % | ||
| Current price | 1.59 | |||
| Support | S1 | 1.43 | -9.70% | |
| S2 | 1.39 | -12.47% | ||
| S3 | 1.34 | -15.93% |
FAQ
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