Orexo AB (publ) Stock Forecast

Orexo AB (publ) stock price ended at kr16.90 on Tuesday, after gaining 2.67%.
(Updated on Apr 30, 2024)

ORX.ST Signals & Forecast

The Orexo AB (publ) stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at kr16.61 and kr16.00. A breakdown below any of these levels will issue sell signals. Orexo AB (publ) has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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, April 17, 2024, and so far it has fallen -3.43%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Orexo AB (publ) stock

On the downside, the stock finds support just below today's level from accumulated volume at kr14.70 and kr14.66. 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, Orexo AB (publ) finds support just below today's level at kr14.70. If this is broken, then the next support from accumulated volume will be at kr14.66 and kr14.50.

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 kr1.30 between high and low, or 8.29%. For the last week, the stock has had daily average volatility of 6.08%.

Our recommended stop-loss: kr16.11 (-4.67%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 9 days ago.)

Trading Expectations (ORX.ST) For The Upcoming Trading Day Of Thursday 2nd

For the upcoming trading day on Thursday, 2nd we expect Orexo AB (publ) to open at kr16.52, and during the day (based on 14 day Average True Range), to move between kr15.94 and kr17.86, which gives a possible trading interval of +/-kr0.96 (+/-5.68%) up or down from last closing price. If Orexo AB (publ) takes out the full calculated possible swing range there will be an estimated 11.36% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr17.00 (0.59%) than the support at kr14.70 (13.02%), 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 Orexo AB (publ) 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 Orexo AB (publ) stock to perform well in the short-term.

Current score: 3.516 Buy Candidate Unchanged

Predicted Opening Price for Orexo AB (publ) of Thursday, May 2, 2024

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