Orrön Energy AB Stock Forecast

Green day on Friday for Orrön Energy AB stock after gaining 1.67%
(Updated on May 24, 2024)

ORRON.ST Signals & Forecast

The Orrön Energy AB stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately kr7.66. On a fall, the stock will find some support from the long-term average at approximately kr7.52. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -7.33%. Further fall is indicated until a new bottom pivot has been found.

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

Orrön Energy AB finds support from accumulated volume at kr7.65 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 kr0.270 between high and low, or 3.65%. For the last week, the stock has had daily average volatility of 3.47%.

Our recommended stop-loss: kr7.32 (-4.37%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 27 days ago.)

Trading Expectations (ORRON.ST) For The Upcoming Trading Day Of Monday 27th

For the upcoming trading day on Monday, 27th we expect Orrön Energy AB to open at kr7.57, and during the day (based on 14 day Average True Range), to move between kr7.34 and kr7.97, which gives a possible trading interval of +/-kr0.315 (+/-4.11%) up or down from last closing price. If Orrön Energy AB takes out the full calculated possible swing range there will be an estimated 8.22% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at kr7.65 (0.03%) than the resistance at kr7.85 (2.48%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Orrön Energy AB stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Orrön Energy AB stock to perform well in the short-term.

Current score: 2.643 Buy Candidate Unchanged

Predicted Opening Price for Orrön Energy AB of Monday, May 27, 2024

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