Prevas AB Stock Forecast

Weaker technical forecast for Prevas AB as stock downgraded to Hold/Accumulate.
(Updated on May 17, 2024)

PREV-B.ST Signals & Forecast

The Prevas AB stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately kr140.43. On a fall, the stock will find some support from the long-term average at approximately kr124.14. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -5.71%. Further fall is indicated until a new bottom pivot has been found. 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 Prevas AB stock

On the downside, the stock finds support just below today's level from accumulated volume at kr121.00 and kr118.80. 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, Prevas AB finds support just below today's level at kr121.00. If this is broken, then the next support from accumulated volume will be at kr118.80 and kr116.00.

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 kr6.20 between high and low, or 4.47%. For the last week the stock has had daily average volatility of 4.01%.

Our recommended stop-loss: kr130.84 (-5.60%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (PREV-B.ST) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Prevas AB to open at kr140.67, and during the day (based on 14 day Average True Range), to move between kr133.49 and kr143.71, which gives a possible trading interval of +/-kr5.11 (+/-3.69%) up or down from last closing price. If Prevas AB takes out the full calculated possible swing range there will be an estimated 7.38% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr139.40 (0.58%) than the support at kr121.00 (12.70%), 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 Prevas AB stock A Buy?

Prevas AB holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. 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 Hold/Accumulate candidate.

Current score: -0.620 Hold/Accumulate Downgraded

Predicted Opening Price for Prevas AB of Monday, May 20, 2024

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