SATS ASA Stock Forecast

Red day on Thursday for SATS ASA
(Updated on May 16, 2024)

SATS.OL Signals & Forecast

There are mixed signals in the stock today. The SATS 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 kr18.04. On a fall, the stock will find some support from the short-term average at kr17.71. 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. A sell signal was issued from a pivot top point on Tuesday, May 14, 2024, and so far it has fallen -1.76%. 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 SATS ASA stock

SATS ASA finds support from accumulated volume at kr17.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved kr0.420 (2.37%) between high and low. For the last week, the stock has had daily average volatility of 3.19%.

Our recommended stop-loss: kr17.00 (-4.73%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (SATS.OL) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect SATS ASA to open at kr17.91, and during the day (based on 14 day Average True Range), to move between kr17.27 and kr18.41, which gives a possible trading interval of +/-kr0.567 (+/-3.18%) up or down from last closing price. If SATS ASA takes out the full calculated possible swing range there will be an estimated 6.36% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr18.16 (1.79%) than the support at kr17.50 (1.91%), 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 SATS ASA stock A Buy?

SATS 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.

Current score: 0.349 Hold/Accumulate Unchanged

Predicted Opening Price for SATS ASA of Tuesday, May 21, 2024

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