Nokian Renkaat Oyj Stock Forecast
Weaker technical forecast for Nokian Renkaat Oyj as stock downgraded to Sell Candidate.
(Updated on May 17, 2024)
The Nokian Renkaat Oyj stock price fell by -1.02% on the last day (Friday, 17th May 2024) from $4.90 to $4.85. During the last trading day the stock fluctuated 0.206% from a day low at $4.85 to a day high of $4.86. The price has risen in 5 of the last 10 days and is up by 10.73% over the past 2 weeks. Volume has increased on the last day by 36 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 38 thousand shares were bought and sold for approximately $183.33 thousand.
The stock lies in the middle of a wide and weak 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 3.06% during the next 3 months and, with a 90% probability hold a price between $4.42 and $5.27 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
NKRKY Signals & Forecast
The Nokian Renkaat Oyj stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $4.65 and $4.70. 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 Thursday, May 16, 2024, and so far it has fallen -1.02%. Further fall is indicated until a new bottom pivot has been found. Nokian Renkaat Oyj 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 Nokian Renkaat Oyj stock
Nokian Renkaat Oyj finds support from accumulated volume at $4.80 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 $0.0100 between high and low, or 0.206%. For the last week, the stock has had daily average volatility of 0.0821%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NKRKY) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Nokian Renkaat Oyj to open at $4.85, and during the day (based on 14 day Average True Range), to move between $4.78 and $4.92, which gives a possible trading interval of +/-$0.0739 (+/-1.52%) up or down from last closing price. If Nokian Renkaat Oyj takes out the full calculated possible swing range there will be an estimated 3.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $4.80 (1.03%) than the resistance at $4.91 (1.24%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Nokian Renkaat Oyj stock A Buy?
Nokian Renkaat Oyj holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, 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 Buy to a Sell candidate.
Current score: -1.504 Sell Candidate Downgraded
Predicted Opening Price for Nokian Renkaat Oyj of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $4.85 ( 0.0687%) | $4.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NKRKY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.86 | 0.275 % | |
| R2 | 4.86 | 0.196 % | ||
| R1 | 4.86 | 0.147 % | ||
| Current price: | 4.85 | |||
| Support | S1 | 4.85 | -0.0100 % | |
| S2 | 4.85 | -0.0587 % | ||
| S3 | 4.84 | -0.137 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.03 | 3.71 % | |
| R2 | 5.02 | 3.51 % | ||
| R1 | 4.91 | 1.24 % | ||
| Current price | 4.85 | |||
| Support | S1 | 4.80 | -1.03% | |
| S2 | 4.79 | -1.24% | ||
| S3 | 4.71 | -2.89% |
NKRKY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 01, 2024 | May 01, 2024 | May 30, 2024 | $0.186 | 3.84% |
| 2 | Oct 26, 2023 | Nov 03, 2023 | Dec 20, 2023 | $0.106 | 2.46% |
| 3 | Jul 26, 2023 | Apr 27, 2023 | May 26, 2023 | $0.188 | 4.21% |
| 4 | Oct 22, 2022 | Nov 02, 2022 | Dec 27, 2022 | $0.320 | 6.27% |
| 5 | Apr 23, 2022 | Apr 29, 2022 | May 26, 2022 | $0.299 | 4.33% |
FAQ
Click here for our free guide on how to buy Nokian Renkaat Oyj Stock.
