Multiconsult ASA Stock Forecast
Stronger technical forecast for Multiconsult ASA stock price after Tuesday trading.
(Updated on Jul 02, 2024)
The Multiconsult ASA stock price gained 0.314% on the last trading day (Tuesday, 2nd Jul 2024), rising from kr159.00 to kr159.50. During the last trading day the stock fluctuated 1.27% from a day low at kr157.50 to a day high of kr159.50. The price has risen in 7 of the last 10 days and is up by 3.57% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 thousand more shares were traded than the day before. In total, 4 thousand shares were bought and sold for approximately kr595.41 thousand.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 12.07% during the next 3 months and, with a 90% probability hold a price between kr171.00 and kr184.33 at the end of this 3-month period.
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MULTI.OL Signals & Forecast
Mostly positive signals in the chart today. The Multiconsult 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 kr157.43 and kr153.71. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 16.42%. 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). Multiconsult ASA has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Multiconsult ASA stock
Multiconsult ASA finds support from accumulated volume at kr154.00 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved kr2.00 between high and low, or 1.27%. For the last week the stock has had daily average volatility of 1.08%.
Our recommended stop-loss: kr153.85 (-3.54%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 60 days ago.)
Trading Expectations (MULTI.OL) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Multiconsult ASA to open at kr158.83, and during the day (based on 14 day Average True Range), to move between kr157.25 and kr161.75, which gives a possible trading interval of +/-kr2.25 (+/-1.41%) up or down from last closing price. If Multiconsult ASA takes out the full calculated possible swing range there will be an estimated 2.82% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ kr154.00, some kr5.50 (3.45%) from the current price of kr159.50, our system finds the risk reward attractive.
Is Multiconsult ASA stock A Buy?
Multiconsult ASA holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.035 Strong Buy Candidate Upgraded
Predicted Opening Price for Multiconsult ASA of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| kr158.83 ( 0.418%) | kr159.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MULTI.OL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 160.83 | 0.84% |
| R2 | 160.07 | 0.357% |
| R1 | 159.60 | 0.0610% |
| Price | 159.50 | |
| S1 | 158.07 | -0.90% |
| S2 | 157.60 | -1.19% |
| S3 | 156.83 | -1.67% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 159.50 | |
| S1 | 154.00 | -3.45% |
| S2 | 152.00 | -4.70% |
| S3 | 149.50 | -6.27% |
MULTI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 12, 2024 | Apr 12, 2024 | Apr 22, 2024 | kr8.00 | 5.71% |
| 2 | Apr 14, 2023 | Apr 14, 2023 | Apr 14, 2023 | kr9.00 | 6.06% |
| 3 | Apr 08, 2022 | Apr 08, 2022 | Apr 08, 2022 | kr6.00 | 4.20% |
| 4 | Apr 20, 2021 | Apr 20, 2021 | Apr 20, 2021 | kr8.00 | 4.55% |
| 5 | Dec 02, 2020 | Dec 02, 2020 | Dec 02, 2020 | kr2.00 | 1.49% |
FAQ
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