Nyfosa AB (publ) Stock Forecast

Stronger technical forecast for Nyfosa AB (publ) stock price after Friday trading.
(Updated on May 31, 2024)

NYF.ST Signals & Forecast

The Nyfosa AB (publ) 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 kr103.70 and kr99.72. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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 Wednesday, May 15, 2024, and so far it has fallen -0.652%. 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).

Support, Risk & Stop-loss for Nyfosa AB (publ) stock

On the downside, the stock finds support just below today's level from accumulated volume at kr100.30 and kr97.60. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Nyfosa AB (publ) finds support just below today's level at kr100.30. If this is broken, then the next support from accumulated volume will be at kr97.60 and kr95.40.

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 kr4.10 between high and low, or 3.98%. For the last week, the stock has had daily average volatility of 3.56%.

Our recommended stop-loss: kr102.48 (-3.95%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 24 days ago.)

Trading Expectations (NYF.ST) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect Nyfosa AB (publ) to open at kr105.60, and during the day (based on 14 day Average True Range), to move between kr103.23 and kr110.17, which gives a possible trading interval of +/-kr3.47 (+/-3.25%) up or down from last closing price. If Nyfosa AB (publ) takes out the full calculated possible swing range there will be an estimated 6.50% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr107.40 (0.66%) than the support at kr100.30 (6.00%), 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 Nyfosa AB (publ) stock A Buy?

Nyfosa AB (publ) holds several positive signals and is within a weak 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: 5.287 Strong Buy Candidate Upgraded

Predicted Opening Price for Nyfosa AB (publ) of Monday, June 3, 2024

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