Multiconsult ASA Stock Forecast

Red day on Friday for Multiconsult ASA stock after losing 0.717%
(Updated on Apr 19, 2024)

MULTI.OL Signals & Forecast

There are few to no technical positive signals at the moment. The Multiconsult 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 kr139.71 and kr141.96. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -6.42%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Multiconsult ASA gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for Multiconsult ASA stock

Multiconsult ASA finds support from accumulated volume at kr137.00 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 kr4.00 (2.95%) between high and low. For the last week, the stock has had daily average volatility of 2.28%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (MULTI.OL) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect Multiconsult ASA to open at kr137.83, and during the day (based on 14 day Average True Range), to move between kr134.89 and kr142.11, which gives a possible trading interval of +/-kr3.61 (+/-2.61%) up or down from last closing price. If Multiconsult ASA takes out the full calculated possible swing range there will be an estimated 5.22% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr140.00 (1.08%) than the support at kr137.00 (1.08%), 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 Multiconsult ASA stock A Buy?

The Multiconsult ASA stock holds several negative signals and despite the positive trend, we believe Multiconsult ASA will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -4.384 Sell Candidate Unchanged

Predicted Opening Price for Multiconsult ASA of Monday, April 22, 2024

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