Starbreeze AB (publ) Stock Forecast
Big movements in Starbreeze AB (publ) stock price on Friday moving 10.67% between high and low
(Updated on May 17, 2024)
The Starbreeze AB (publ) stock price gained 10.67% on the last trading day (Friday, 17th May 2024), rising from kr0.300 to kr0.332. During the last trading day the stock fluctuated 10.67% from a day low at kr0.300 to a day high of kr0.332. The price has risen in 4 of the last 10 days and is up by 12.93% over the past 2 weeks. Volume fell on the last day by -45 thousand shares and in total, 143 thousand shares were bought and sold for approximately kr47.51 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Given the current short-term trend, the stock is expected to fall -9.77% during the next 3 months and, with a 90% probability hold a price between kr0.181 and kr0.300 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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STAR-A.ST Signals & Forecast
The Starbreeze AB (publ) 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 kr0.287 and kr0.273. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 21, 2024, and so far it has risen 48.88%. 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 Starbreeze AB (publ) stock
On the downside, the stock finds support just below today's level from accumulated volume at kr0.300 and kr0.279. 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, Starbreeze AB (publ) finds support just below today's level at kr0.300. If this is broken, then the next support from accumulated volume will be at kr0.279 and kr0.250.
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 kr0.0320 between high and low, or 10.67%. For the last week the stock has had daily average volatility of 10.26%.
Our recommended stop-loss: kr0.321 (-3.22%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 37 days ago.)
Trading Expectations (STAR-A.ST) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Starbreeze AB (publ) to open at kr0.321, and during the day (based on 14 day Average True Range), to move between kr0.308 and kr0.356, which gives a possible trading interval of +/-kr0.0237 (+/-7.13%) up or down from last closing price. If Starbreeze AB (publ) takes out the full calculated possible swing range there will be an estimated 14.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr0.336 (1.20%) than the support at kr0.300 (9.64%), 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 Starbreeze AB (publ) stock A Buy?
Starbreeze AB (publ) holds several positive signals and despite the stock being in a falling trend, we considered it to be a good choice at these current levels. We expect Starbreeze AB (publ) stock will perform very well in the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.525 Strong Buy Candidate Upgraded
Predicted Opening Price for Starbreeze AB (publ) of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| kr0.321 ( 3.21%) | kr0.332 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for STAR-A.ST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.353 | 6.43 % | |
| R2 | 0.341 | 2.74 % | ||
| R1 | 0.334 | 0.469 % | ||
| Current price: | 0.332 | |||
| Support | S1 | 0.309 | -6.89 % | |
| S2 | 0.302 | -9.17 % | ||
| S3 | 0.289 | -12.85 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0.336 | 1.20 % | ||
| Current price | 0.332 | |||
| Support | S1 | 0.300 | -9.64% | |
| S2 | 0.279 | -15.96% | ||
| S3 | 0.250 | -24.70% |
FAQ
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