REC Silicon ASA Stock Forecast
REC Silicon ASA stock price down 4.57% on Monday
(Updated on May 13, 2024)
The REC Silicon ASA stock price fell by -4.57% on the last day (Monday, 13th May 2024) from kr9.97 to kr9.51. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 4.15% from a day low at kr9.51 to a day high of kr9.91. The price has fallen in 7 of the last 10 days and is down by -10.62% for this period. 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 -2 million shares and in total, 2 million shares were bought and sold for approximately kr23.13 million.
The stock has broken the wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at kr10.11. A reaction back to this level may hold a second chance to get out before further falls.
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RECSI.OL Signals & Forecast
There are few to no technical positive signals at the moment. The REC Silicon 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 kr10.27 and kr10.74. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -20.08%. 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 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 REC Silicon ASA stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 kr0.395 between high and low, or 4.15%. For the last week, the stock has had daily average volatility of 2.93%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RECSI.OL) For The Upcoming Trading Day Of Tuesday 14th
For the upcoming trading day on Tuesday, 14th we expect REC Silicon ASA to open at kr9.64, and during the day (based on 14 day Average True Range), to move between kr9.05 and kr9.97, which gives a possible trading interval of +/-kr0.459 (+/-4.83%) up or down from last closing price. If REC Silicon ASA takes out the full calculated possible swing range there will be an estimated 9.66% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ kr9.97, some kr0.455 (4.78%) from the current price of kr9.51, our system finds the risk reward not very attractive.
Is REC Silicon ASA stock A Buy?
The REC Silicon ASA stock holds several negative signals and despite the positive trend, we believe REC Silicon ASA will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.977 Sell Candidate Unchanged
Predicted Opening Price for REC Silicon ASA of Tuesday, May 14, 2024
| Fair opening price May 14, 2024 | Current price |
|---|---|
| kr9.64 ( 1.38%) | kr9.51 |
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 | 10.04 | 5.54 % | |
| R2 | 9.89 | 3.95 % | ||
| R1 | 9.79 | 2.97 % | ||
| Current price: | 9.51 | |||
| Support | S1 | 9.49 | -0.202 % | |
| S2 | 9.40 | -1.18 % | ||
| S3 | 9.25 | -2.77 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.72 | 12.67 % | |
| R2 | 9.98 | 4.90 % | ||
| R1 | 9.97 | 4.78 % | ||
| Current price | 9.51 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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