Kongsberg Automotive ASA Stock Forecast
Kongsberg Automotive ASA stock downgraded to Sell Candidate
(Updated on Jun 17, 2024)
The Kongsberg Automotive ASA stock price gained 0.499% on the last trading day (Monday, 17th Jun 2024), rising from kr1.60 to kr1.61. During the last trading day the stock fluctuated 1.50% from a day low at kr1.60 to a day high of kr1.62. The price has been going up and down for this period, and there has been a -6.61% loss for the last 2 weeks. Volume fell on the last day by -2 million shares and in total, 1 million shares were bought and sold for approximately kr1.67 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 has broken the wide and strong rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at kr1.61. A reaction back to this level may hold a second chance to get out before further falls.
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KOA.OL Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 1.51%. 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). 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 Kongsberg Automotive 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 kr1.62 and kr1.67. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for Kongsberg Automotive ASA stock
Kongsberg Automotive ASA finds support from accumulated volume at kr1.54 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved kr0.0240 between high and low, or 1.50%. For the last week, the stock has had daily average volatility of 3.13%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (KOA.OL) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Kongsberg Automotive ASA to open at kr1.61, and during the day (based on 14 day Average True Range), to move between kr1.55 and kr1.67, which gives a possible trading interval of +/-kr0.0592 (+/-3.68%) up or down from last closing price. If Kongsberg Automotive ASA takes out the full calculated possible swing range there will be an estimated 7.35% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr1.54 (4.60%) than the resistance at kr1.69 (5.22%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Kongsberg Automotive ASA stock A Buy?
The Kongsberg Automotive ASA stock holds several negative signals and despite the positive trend, we believe Kongsberg Automotive ASA will perform weakly in the next couple of days or weeks. Therefore, we 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: -3.594 Sell Candidate Downgraded
Predicted Opening Price for Kongsberg Automotive ASA of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| kr1.61 ( 0.0828%) | kr1.61 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KOA.OL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.64 | 1.57% |
| R2 | 1.63 | 1.00% |
| R1 | 1.62 | 0.652% |
| Price | 1.61 | |
| S1 | 1.60 | -0.487% |
| S2 | 1.60 | -0.84% |
| S3 | 1.59 | -1.41% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.70 | 5.71% |
| R2 | 1.70 | 5.47% |
| R1 | 1.69 | 5.22% |
| Price | 1.61 | |
| S1 | 1.54 | -4.60% |
| S2 | 1.51 | -6.21% |
| S3 | 1.50 | -6.83% |
KOA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 30, 2007 | Jun 04, 2007 | Jun 15, 2007 | kr1.49 | 2.35% |
| 2 | Mar 15, 2006 | May 16, 2006 | May 29, 2006 | kr1.79 | 2.70% |
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