REC Silicon ASA Stock Forecast
A very strong day for REC Silicon ASA stock price on Friday
(Updated on Apr 26, 2024)
The REC Silicon ASA stock price gained 6.02% on the last trading day (Friday, 26th Apr 2024), rising from kr10.64 to kr11.28. During the last trading day the stock fluctuated 3.96% from a day low at kr10.85 to a day high of kr11.28. The price has risen in 5 of the last 10 days but is still down by -0.18% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 225 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately kr31.13 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at kr11.77 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -5.08% during the next 3 months and, with a 90% probability hold a price between kr8.65 and kr11.17 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
RECSI.OL Signals & Forecast
The REC Silicon 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 kr10.94 and kr10.66. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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 Tuesday, April 09, 2024, and so far it has fallen -5.21%. 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).
Support, Risk & Stop-loss for REC Silicon ASA stock
REC Silicon ASA finds support from accumulated volume at kr11.08 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 kr0.430 between high and low, or 3.96%. For the last week, the stock has had daily average volatility of 3.91%.
Our recommended stop-loss: kr10.74 (-4.77%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (RECSI.OL) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect REC Silicon ASA to open at kr11.14, and during the day (based on 14 day Average True Range), to move between kr10.81 and kr11.75, which gives a possible trading interval of +/-kr0.471 (+/-4.18%) up or down from last closing price. If REC Silicon ASA takes out the full calculated possible swing range there will be an estimated 8.35% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr11.40 (1.02%) than the support at kr11.08 (1.77%), 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 REC Silicon ASA stock A Buy?
REC Silicon ASA 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.430 Hold/Accumulate Upgraded
Predicted Opening Price for REC Silicon ASA of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| kr11.14 ( 1.27%) | kr11.28 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RECSI.OL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.57 | 2.54 % | |
| R2 | 11.40 | 1.09 % | ||
| R1 | 11.30 | 0.186 % | ||
| Current price: | 11.28 | |||
| Support | S1 | 10.97 | -2.73 % | |
| S2 | 10.87 | -3.63 % | ||
| S3 | 10.71 | -5.08 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.90 | 5.50 % | |
| R2 | 11.41 | 1.15 % | ||
| R1 | 11.40 | 1.02 % | ||
| Current price | 11.28 | |||
| Support | S1 | 11.08 | -1.77% | |
| S2 | 10.72 | -5.01% | ||
| S3 | 9.98 | -11.56% |
FAQ
Click here for our free guide on how to buy REC Silicon ASA Stock.
