Orrön Energy AB Stock Forecast

Orrön Energy AB stock upgraded to Hold/Accumulate.
(Updated on Jul 02, 2024)

ORRON.ST Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 5.11%. Further rise is indicated until a new top pivot has been found. 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. The Orrön Energy AB stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at kr7.81. On a fall, the stock will find some support from the short-term average at kr7.25. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Orrön Energy AB stock

Orrön Energy AB finds support from accumulated volume at kr7.15 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved kr0.390 between high and low, or 5.52%. For the last week, the stock has had daily average volatility of 3.03%.

Our recommended stop-loss: kr6.98 (-6.34%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 20 days ago.)

Trading Expectations (ORRON.ST) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect Orrön Energy AB to open at kr7.33, and during the day (based on 14 day Average True Range), to move between kr7.14 and kr7.76, which gives a possible trading interval of +/-kr0.308 (+/-4.13%) up or down from last closing price. If Orrön Energy AB takes out the full calculated possible swing range there will be an estimated 8.27% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr7.65 (2.71%) than the support at kr7.15 (4.05%), 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?

Orrön Energy AB 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.910 Hold/Accumulate Upgraded

Predicted Opening Price for Orrön Energy AB of Wednesday, July 3, 2024

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