Orion Oyj Stock Forecast

Green day on Friday for Orion Oyj
(Updated on Apr 26, 2024)

ORNAV.HE Signals & Forecast

The Orion 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 33.95€ and 34.35€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 10.41%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.

Support, Risk & Stop-loss for Orion Oyj stock

Orion Oyj finds support from accumulated volume at 35.45€ 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 controlled movements and therefore the general risk is considered 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 1.15€ between high and low, or 3.30%. For the last week the stock has had daily average volatility of 3.45%.

The Orion Oyj stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: 34.98€ (-2.96%) (This stock has low daily movements and this gives low risk. The RSI14 is 77 and this increases the risk substantially. There is a buy signal from a pivot bottom found 5 days ago.)

Trading Expectations (ORNAV.HE) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Orion Oyj to open at 35.67€, and during the day (based on 14 day Average True Range), to move between 35.30€ and 36.80€, which gives a possible trading interval of +/-0.751€ (+/-2.08%) up or down from last closing price. If Orion Oyj takes out the full calculated possible swing range there will be an estimated 4.17% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at 35.45€ (1.66%) than the resistance at 37.65€ (4.44%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Orion Oyj stock A Buy?

Orion 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.

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 Orion Oyj of Monday, April 29, 2024

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