Swedish Orphan Biovitrum AB (publ) Stock Forecast
Evaluation of Swedish Orphan Biovitrum AB (publ) stock downgraded after the last trading session.
(Updated on Jul 02, 2024)
The Swedish Orphan Biovitrum AB (publ) stock price fell by -2.66% on the last day (Tuesday, 2nd Jul 2024) from kr285.80 to kr278.20. During the last trading day the stock fluctuated 2.88% from a day low at kr277.80 to a day high of kr285.80. The price has risen in 7 of the last 10 days and is up by 2.81% over the past 2 weeks. 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 -31 thousand shares and in total, 61 thousand shares were bought and sold for approximately kr16.95 million.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 6.59% during the next 3 months and, with a 90% probability hold a price between kr286.57 and kr313.11 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
SOBI.ST Signals & Forecast
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. The Swedish Orphan Biovitrum AB (publ) stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at kr281.43 and kr278.68. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 05, 2024, and so far it has fallen -3.60%. 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.
Support, Risk & Stop-loss for Swedish Orphan Biovitrum AB (publ) stock
Swedish Orphan Biovitrum AB (publ) finds support from accumulated volume at kr276.40 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 kr8.00 (2.88%) between high and low. For the last week, the stock has had daily average volatility of 2.09%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SOBI.ST) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Swedish Orphan Biovitrum AB (publ) to open at kr280.60, and during the day (based on 14 day Average True Range), to move between kr271.55 and kr284.85, which gives a possible trading interval of +/-kr6.65 (+/-2.39%) up or down from last closing price. If Swedish Orphan Biovitrum AB (publ) takes out the full calculated possible swing range there will be an estimated 4.78% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr276.40 (0.65%) than the resistance at kr280.80 (0.93%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Swedish Orphan Biovitrum AB (publ) stock A Buy?
The Swedish Orphan Biovitrum AB (publ) stock holds several negative signals and despite the positive trend, we believe Swedish Orphan Biovitrum AB (publ) will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. 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 Sell candidate.
Current score: -1.938 Sell Candidate Downgraded
Predicted Opening Price for Swedish Orphan Biovitrum AB (publ) of Wednesday, July 3, 2024
Fair opening price July 3, 2024 | Current price |
---|---|
kr280.60 ( 0.86%) | kr278.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SOBI.ST
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 288.60 | 3.74% |
R2 | 285.54 | 2.64% |
R1 | 283.66 | 1.96% |
Price | 278.20 | |
S1 | 277.54 | -0.236% |
S2 | 275.66 | -0.91% |
S3 | 272.60 | -2.01% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 282.40 | 1.51% |
R2 | 281.00 | 1.01% |
R1 | 280.80 | 0.93% |
Price | 278.20 | |
S1 | 276.40 | -0.647% |
S2 | 266.40 | -4.24% |
S3 | 263.60 | -5.25% |
FAQ
Click here for our free guide on how to buy Swedish Orphan Biovitrum AB (publ) Stock.