Kesko Oyj Stock Forecast

Green day on Friday for Kesko Oyj
(Updated on May 17, 2024)

KESKOA.HE Signals & Forecast

The Kesko Oyj stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at 17.15€ and 17.03€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 7.88%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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.

Support, Risk & Stop-loss for Kesko Oyj stock

Kesko Oyj finds support from accumulated volume at 17.28€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved 0.160€ between high and low, or 0.92%. For the last week the stock has had daily average volatility of 1.19%

The Kesko Oyj stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs. Since the Kesko Oyj has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: 16.83€ (-3.93%) (This stock has low daily movements and this gives low risk. The RSI14 is 81 and this increases the risk substantially. There is a buy signal from a pivot bottom found 14 days ago.)

Trading Expectations (KESKOA.HE) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Kesko Oyj to open at 17.49€, and during the day (based on 14 day Average True Range), to move between 17.26€ and 17.78€, which gives a possible trading interval of +/-0.263€ (+/-1.50%) up or down from last closing price. If Kesko Oyj takes out the full calculated possible swing range there will be an estimated 3.00% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 17.58€ (0.34%) than the support at 17.28€ (1.37%), 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 Kesko Oyj stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.

Current score: 2.506 Buy Candidate Unchanged

Predicted Opening Price for Kesko Oyj of Monday, May 20, 2024

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