Oatly Group AB Stock Forecast
Red day on Wednesday for Oatly Group AB stock after losing 3.11%
(Updated on Apr 24, 2024)
The Oatly Group AB stock price fell by -3.11% on the last day (Wednesday, 24th Apr 2024) from $0.96 to $0.93. During the last trading day the stock fluctuated 4.29% from a day low at $0.93 to a day high of $0.97. The price has been going up and down for this period, and there has been a -11.42% 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 -587 thousand shares and in total, 685 thousand shares were bought and sold for approximately $636.73 thousand.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.88 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -17.09% during the next 3 months and, with a 90% probability hold a price between $0.726 and $0.97 at the end of this 3-month period.
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OTLY Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 2.82%. 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 Oatly Group 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 $0.93 and $1.02. 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 along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Oatly Group AB stock
Oatly Group AB finds support from accumulated volume at $0.92 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0399 between high and low, or 4.29%. For the last week the stock has had daily average volatility of 5.19%.
Oatly Group AB is oversold on RSI14 (23). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OTLY) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Oatly Group AB to open at $0.94, and during the day (based on 14 day Average True Range), to move between $0.87 and $0.99, which gives a possible trading interval of +/-$0.0565 (+/-6.07%) up or down from last closing price. If Oatly Group AB takes out the full calculated possible swing range there will be an estimated 12.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.92 (1.51%) than the resistance at $1.01 (8.59%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Oatly Group AB will release earnings BMO on Tuesday, April 30, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.0900. We will update the financials statements for Oatly Group AB, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 17.00% in the first trading day after earnings release.
Is Oatly Group AB stock A Buy?
Oatly Group AB holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.058 Sell Candidate Unchanged
Predicted Opening Price for Oatly Group AB of Thursday, April 25, 2024
Fair opening price April 25, 2024 | Current price |
---|---|
$0.94 ( 1.43%) | $0.93 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OTLY
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.98 | 5.72 % | |
R2 | 0.97 | 4.08 % | ||
R1 | 0.96 | 3.07 % | ||
Current price: | 0.93 | |||
Support | S1 | 0.93 | -0.209 % | |
S2 | 0.92 | -1.22 % | ||
S3 | 0.90 | -2.86 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.13 | 21.49 % | |
R2 | 1.09 | 17.19 % | ||
R1 | 1.01 | 8.59 % | ||
Current price | 0.93 | |||
Support | S1 | 0.92 | -1.51% | |
S2 | 0.91 | -1.77% | ||
S3 | 0.90 | -2.74% |
FAQ
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