Orexo AB (publ) Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Orexo AB (publ) stock price ended at kr16.90 on Tuesday, after gaining 2.67%.
(Updated on Apr 30, 2024)
The Orexo AB (publ) stock price gained 2.67% on the last trading day (Tuesday, 30th Apr 2024), rising from kr16.46 to kr16.90. During the last trading day the stock fluctuated 8.29% from a day low at kr15.68 to a day high of kr16.98. The price has fallen in 5 of the last 10 days and is down by -0.12% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 10 thousand more shares were traded than the day before. In total, 14 thousand shares were bought and sold for approximately kr238.88 thousand.
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 14.30% during the next 3 months and, with a 90% probability hold a price between kr17.70 and kr20.75 at the end of this 3-month period.
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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
| Fair opening price May 2, 2024 | Current price |
|---|---|
| kr16.52 ( 2.25%) | kr16.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ORX.ST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.82 | 5.44 % | |
| R2 | 17.32 | 2.51 % | ||
| R1 | 17.02 | 0.690 % | ||
| Current price: | 16.90 | |||
| Support | S1 | 16.02 | -5.19 % | |
| S2 | 15.72 | -7.00 % | ||
| S3 | 15.22 | -9.94 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.50 | 3.55 % | |
| R2 | 17.20 | 1.78 % | ||
| R1 | 17.00 | 0.592 % | ||
| Current price | 16.90 | |||
| Support | S1 | 14.70 | -13.02% | |
| S2 | 14.66 | -13.25% | ||
| S3 | 14.50 | -14.20% |
FAQ
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