Stora Enso Oyj Stock Forecast

Weaker technical forecast for Stora Enso Oyj as stock downgraded to Hold/Accumulate.
(Updated on May 17, 2024)

SEOAY Signals & Forecast

The Stora Enso Oyj 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 $14.56 and $13.93. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 13.02%. Further rise is indicated until a new top pivot has been found. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Stora Enso Oyj stock

On the downside, the stock finds support just below today's level from accumulated volume at $14.10 and $13.91. 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, Stora Enso Oyj finds support just below today's level at $14.10. If this is broken, then the next support from accumulated volume will be at $13.91 and $11.97.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.210 between high and low, or 1.42%. For the last week the stock has had daily average volatility of 2.07%.

Our recommended stop-loss: $14.25 (-4.56%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 84 and this increases the risk substantially. There is a buy signal from a pivot bottom found 21 days ago.)

Trading Expectations (SEOAY) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Stora Enso Oyj to open at $14.91, and during the day (based on 14 day Average True Range), to move between $14.60 and $15.27, which gives a possible trading interval of +/-$0.333 (+/-2.23%) up or down from last closing price. If Stora Enso Oyj takes out the full calculated possible swing range there will be an estimated 4.46% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $14.10, some $0.84 (5.59%) from the current price of $14.94, our system finds the risk reward attractive.

Is Stora Enso Oyj stock A Buy?

Stora Enso Oyj 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Downgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Stora Enso Oyj of Monday, May 20, 2024

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