Reach Subsea ASA Stock Forecast

Reach Subsea ASA stock upgraded from Hold/Accumulate to Buy Candidate after Tuesday trading session.
(Updated on Apr 30, 2024)

REACH.OL Signals & Forecast

The Reach Subsea ASA 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 kr6.01 and kr5.80. A breakdown below any of these levels will issue sell signals. 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 Monday, April 29, 2024, and so far it has fallen 0%. 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). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The stock had a Golden Star Signal on Wednesday, February 07, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Reach Subsea ASA stock

On the downside, the stock finds support just below today's level from accumulated volume at kr5.40 and kr5.10. 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, Reach Subsea ASA finds support just below today's level at kr5.40. If this is broken, then the next support from accumulated volume will be at kr5.10 and kr4.92.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved kr0.0600 between high and low, or 0.97%. For the last week the stock has had daily average volatility of 2.82%

Our recommended stop-loss: kr6.00 (-3.60%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (REACH.OL) For The Upcoming Trading Day Of Thursday 2nd

For the upcoming trading day on Thursday, 2nd we expect Reach Subsea ASA to open at kr6.20, and during the day (based on 14 day Average True Range), to move between kr6.07 and kr6.37, which gives a possible trading interval of +/-kr0.146 (+/-2.34%) up or down from last closing price. If Reach Subsea ASA takes out the full calculated possible swing range there will be an estimated 4.68% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ kr5.40, some kr0.82 (13.18%) from the current price of kr6.22, our system finds the risk reward attractive.

Is Reach Subsea ASA 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 Reach Subsea ASA stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.894 Buy Candidate Upgraded

Predicted Opening Price for Reach Subsea ASA of Thursday, May 2, 2024

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