Schibsted ASA Stock Forecast

Schibsted ASA stock downgraded to Buy Candidate
(Updated on May 16, 2024)

SCHB.OL Signals & Forecast

The Schibsted 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 kr326.00 and kr318.18. A breakdown below any of these levels will issue sell signals. 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 -0.667%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. The stock had a Golden Star Signal on Thursday, May 02, 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 Schibsted ASA stock

Schibsted ASA finds support from accumulated volume at kr321.80 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 kr5.00 between high and low, or 1.53%. For the last week, the stock has had daily average volatility of 2.90%.

Our recommended stop-loss: kr315.56 (-3.73%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 19 days ago.)

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

For the upcoming trading day on Tuesday, 21st we expect Schibsted ASA to open at kr329.47, and during the day (based on 14 day Average True Range), to move between kr317.58 and kr338.02, which gives a possible trading interval of +/-kr10.22 (+/-3.12%) up or down from last closing price. If Schibsted ASA takes out the full calculated possible swing range there will be an estimated 6.24% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr329.00 (0.37%) than the support at kr321.80 (1.83%), 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 Schibsted 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 Schibsted ASA stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

Current score: 4.209 Buy Candidate Downgraded

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

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