poLight ASA Stock Forecast

Volatile ride for poLight ASA stock price on Wednesday moving between kr2.49 and kr2.85
(Updated on May 29, 2024)

PLT.OL Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, May 21, 2024, and so far it has risen 7.42%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The poLight ASA stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at kr3.05. On a fall, the stock will find some support from the short-term average at kr2.50. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for poLight ASA stock

poLight ASA finds support from accumulated volume at kr2.49 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 kr0.365 between high and low, or 14.69%. For the last week, the stock has had daily average volatility of 9.74%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (PLT.OL) For The Upcoming Trading Day Of Thursday 30th

For the upcoming trading day on Thursday, 30th we expect poLight ASA to open at kr2.62, and during the day (based on 14 day Average True Range), to move between kr2.23 and kr2.84, which gives a possible trading interval of +/-kr0.303 (+/-11.96%) up or down from last closing price. If poLight ASA takes out the full calculated possible swing range there will be an estimated 23.91% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at kr2.49 (1.78%) than the resistance at kr2.61 (2.96%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is poLight ASA stock A Buy?

poLight 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.

Current score: -4.569 Sell Candidate Unchanged

Predicted Opening Price for poLight ASA of Thursday, May 30, 2024

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