Olvi Oyj Stock Forecast

Olvi Oyj stock downgraded to Hold/Accumulate
(Updated on May 17, 2024)

OLVAS.HE Signals & Forecast

The Olvi Oyj 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 30.29€ and 30.18€. 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 3.55%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Wednesday, May 15, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Monday, April 29, 2024.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Olvi Oyj stock

Olvi Oyj finds support from accumulated volume at 30.15€ 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved 0.300€ between high and low, or 0.98%. For the last week the stock has had daily average volatility of 1.53%

Our recommended stop-loss: 28.98€ (-5.45%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 23 days ago.)

Trading Expectations (OLVAS.HE) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Olvi Oyj to open at 30.72€, and during the day (based on 14 day Average True Range), to move between 30.16€ and 31.14€, which gives a possible trading interval of +/-0.488€ (+/-1.59%) up or down from last closing price. If Olvi Oyj takes out the full calculated possible swing range there will be an estimated 3.19% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 30.80€ (0.49%) than the support at 30.15€ (1.63%), 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 Olvi Oyj stock A Buy?

Olvi Oyj 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. 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 Hold/Accumulate candidate.

Current score: 0.954 Hold/Accumulate Downgraded

Predicted Opening Price for Olvi Oyj of Monday, May 20, 2024

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