Oncopeptides AB (publ) Stock Forecast
Volatile ride for Oncopeptides AB (publ) stock price on Wednesday moving between kr5.48 and kr6.70
(Updated on Mar 27, 2024)
The Oncopeptides AB (publ) stock price gained 26.18% on the last trading day (Wednesday, 27th Mar 2024), rising from kr5.28 to kr6.66. During the last trading day the stock fluctuated 22.26% from a day low at kr5.48 to a day high of kr6.70. The price has risen in 6 of the last 10 days and is up by 32.67% 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, 2 million more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately kr12.92 million.
Given the current short-term trend, the stock is expected to fall -29.12% during the next 3 months and, with a 90% probability hold a price between kr2.64 and kr4.72 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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ONCO.ST Signals & Forecast
The Oncopeptides AB (publ) 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 kr5.07 and kr5.91. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, March 15, 2024, and so far it has risen 63.56%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Oncopeptides AB (publ) stock
On the downside, the stock finds support just below today's level from accumulated volume at kr6.00 and kr5.40. 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, Oncopeptides AB (publ) finds support just below today's level at kr6.00. If this is broken, then the next support from accumulated volume will be at kr5.40 and kr5.02.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved kr1.22 between high and low, or 22.26%. For the last week, the stock has had daily average volatility of 16.33%.
Our recommended stop-loss: kr6.40 (-3.90%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (ONCO.ST) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Oncopeptides AB (publ) to open at kr6.28, and during the day (based on 14 day Average True Range), to move between kr5.93 and kr7.39, which gives a possible trading interval of +/-kr0.727 (+/-10.92%) up or down from last closing price. If Oncopeptides AB (publ) takes out the full calculated possible swing range there will be an estimated 21.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr6.83 (2.55%) than the support at kr6.00 (9.91%), 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 Oncopeptides AB (publ) stock A Buy?
Oncopeptides AB (publ) 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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Oncopeptides AB (publ) of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
kr6.28 ( 5.71%) | kr6.66 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ONCO.ST
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 7.50 | 12.61 % | |
R2 | 7.03 | 5.62 % | ||
R1 | 6.75 | 1.29 % | ||
Current price: | 6.66 | |||
Support | S1 | 5.81 | -12.70 % | |
S2 | 5.53 | -17.03 % | ||
S3 | 5.06 | -24.02 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 7.10 | 6.61 % | |
R2 | 6.85 | 2.85 % | ||
R1 | 6.83 | 2.55 % | ||
Current price | 6.66 | |||
Support | S1 | 6.00 | -9.91% | |
S2 | 5.40 | -18.92% | ||
S3 | 5.02 | -24.62% |
FAQ
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