Orrön Energy AB Stock Forecast
Orrön Energy AB stock downgraded to Sell Candidate
(Updated on May 03, 2024)
The Orrön Energy AB stock price fell by -1.47% on the last day (Friday, 3rd May 2024) from kr7.35 to kr7.24. During the last trading day the stock fluctuated 2.79% from a day low at kr7.18 to a day high of kr7.38. The price has been going up and down for this period, and there has been a -0.28% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -194 thousand shares and in total, 633 thousand shares were bought and sold for approximately kr4.58 million.
The stock lies in the middle of a wide and strong 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 12.35% during the next 3 months and, with a 90% probability hold a price between kr7.58 and kr9.11 at the end of this 3-month period.
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ORRON.ST Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 1.86%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Orrön Energy AB stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at kr7.29 and kr7.33. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Orrön Energy AB stock
Orrön Energy AB finds support from accumulated volume at kr7.20 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 kr0.200 between high and low, or 2.79%. For the last week, the stock has had daily average volatility of 2.95%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ORRON.ST) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Orrön Energy AB to open at kr7.27, and during the day (based on 14 day Average True Range), to move between kr6.99 and kr7.50, which gives a possible trading interval of +/-kr0.257 (+/-3.55%) up or down from last closing price. If Orrön Energy AB takes out the full calculated possible swing range there will be an estimated 7.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr7.26 (0.22%) than the support at kr7.20 (0.58%), 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 Orrön Energy AB stock A Buy?
The Orrön Energy AB stock holds several negative signals and despite the positive trend, we believe Orrön Energy AB will perform weakly in the next couple of days or weeks. Therefore, we 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: -3.744 Sell Candidate Downgraded
Predicted Opening Price for Orrön Energy AB of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| kr7.27 ( 0.350%) | kr7.24 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ORRON.ST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.47 | 3.11 % | |
| R2 | 7.39 | 2.06 % | ||
| R1 | 7.34 | 1.40 % | ||
| Current price: | 7.24 | |||
| Support | S1 | 7.19 | -0.705 % | |
| S2 | 7.14 | -1.36 % | ||
| S3 | 7.07 | -2.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.65 | 5.69 % | |
| R2 | 7.55 | 4.23 % | ||
| R1 | 7.26 | 0.221 % | ||
| Current price | 7.24 | |||
| Support | S1 | 7.20 | -0.580% | |
| S2 | 6.73 | -7.13% | ||
| S3 | 6.60 | -8.86% |
ORRON Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 04, 2023 | Jan 04, 2023 | Jan 04, 2023 | kr0.563 | 2.58% |
| 2 | Oct 03, 2022 | Oct 03, 2022 | Oct 03, 2022 | kr0.563 | 2.51% |
| 3 | Jul 06, 2022 | Jul 06, 2022 | Jul 06, 2022 | kr0.563 | 8.21% |
| 4 | Apr 01, 2022 | Apr 01, 2022 | Apr 01, 2022 | kr5.30 | 1.31% |
| 5 | Jan 04, 2022 | Jan 04, 2022 | Jan 04, 2022 | kr4.09 | 1.23% |
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