Mowi ASA Stock Forecast

Red day on Thursday for Mowi ASA stock after losing 0.101%
(Updated on May 16, 2024)

MOWI.OL Signals & Forecast

The Mowi ASA 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 kr197.16 and kr193.71. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, May 14, 2024, and so far it has fallen -0.201%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Mowi ASA stock

Mowi ASA finds support from accumulated volume at kr196.85 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved kr5.40 (2.78%) between high and low. For the last week, the stock has had daily average volatility of 1.97%.

Our recommended stop-loss: kr191.27 (-3.59%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (MOWI.OL) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Mowi ASA to open at kr197.53, and during the day (based on 14 day Average True Range), to move between kr194.57 and kr202.23, which gives a possible trading interval of +/-kr3.83 (+/-1.93%) up or down from last closing price. If Mowi ASA takes out the full calculated possible swing range there will be an estimated 3.86% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr198.70 (0.15%) than the support at kr196.85 (0.78%), 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 Mowi ASA stock A Buy?

Mowi ASA holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.376 Hold/Accumulate Unchanged

Predicted Opening Price for Mowi ASA of Tuesday, May 21, 2024

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