PCI Biotech Holding ASA Stock Forecast
High volatility in PCI Biotech Holding ASA stock price on Thursday which ended trading at kr1.63
(Updated on May 16, 2024)
The PCI Biotech Holding ASA stock price fell by -6.00% on the last day (Thursday, 16th May 2024) from kr1.73 to kr1.63. During the last trading day the stock fluctuated 17.73% from a day low at kr1.60 to a day high of kr1.89. The price has been going up and down for this period, and there has been a 2.77% gain 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 -63 thousand shares and in total, 31 thousand shares were bought and sold for approximately kr50.51 thousand.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -9.76% during the next 3 months and, with a 90% probability hold a price between kr1.30 and kr1.56 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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PCIB.OL Signals & Forecast
There are mixed signals in the stock today. The PCI Biotech Holding ASA 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 kr1.63 and kr1.68. A break-up above any of these levels will issue buy signals. 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. The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has risen 5.84%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for PCI Biotech Holding ASA stock
PCI Biotech Holding ASA finds support from accumulated volume at kr1.60 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved kr0.284 between high and low, or 17.73%. For the last week the stock has had daily average volatility of 11.26%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PCIB.OL) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect PCI Biotech Holding ASA to open at kr1.71, and during the day (based on 14 day Average True Range), to move between kr1.47 and kr1.79, which gives a possible trading interval of +/-kr0.160 (+/-9.81%) up or down from last closing price. If PCI Biotech Holding ASA takes out the full calculated possible swing range there will be an estimated 19.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr1.65 (1.23%) than the support at kr1.60 (1.84%), 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 PCI Biotech Holding ASA stock A Buy?
PCI Biotech Holding ASA holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -3.208 Sell Candidate Downgraded
Predicted Opening Price for PCI Biotech Holding ASA of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| kr1.71 ( 4.66%) | kr1.63 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PCIB.OL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.99 | 22.09 % | |
| R2 | 1.88 | 15.43 % | ||
| R1 | 1.81 | 11.32 % | ||
| Current price: | 1.63 | |||
| Support | S1 | 1.60 | -1.99 % | |
| S2 | 1.53 | -6.11 % | ||
| S3 | 1.42 | -12.76 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.78 | 9.20 % | |
| R2 | 1.70 | 4.29 % | ||
| R1 | 1.65 | 1.23 % | ||
| Current price | 1.63 | |||
| Support | S1 | 1.60 | -1.84% | |
| S2 | 1.57 | -3.80% | ||
| S3 | 1.55 | -4.91% |
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