Stora Enso Oyj Stock Forecast

Stora Enso Oyj stock upgraded to Strong Buy Candidate.
(Updated on May 10, 2024)

STEAV.HE 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 12.89€ and 12.76€. 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). Stora Enso Oyj has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. 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 Thursday, April 04, 2024, and so far it has fallen -1.50%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Thursday, November 02, 2023 in the long-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 Stora Enso Oyj stock

Stora Enso Oyj finds support from accumulated volume at 12.90€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved 0.250€ between high and low, or 1.94%. For the last week the stock has had daily average volatility of 1.88%.

Our recommended stop-loss: 12.66€ (-3.74%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 24 days ago.)

Trading Expectations (STEAV.HE) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect Stora Enso Oyj to open at 13.07€, and during the day (based on 14 day Average True Range), to move between 12.86€ and 13.44€, which gives a possible trading interval of +/-0.292€ (+/-2.22%) up or down from last closing price. If Stora Enso Oyj takes out the full calculated possible swing range there will be an estimated 4.44% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 13.35€ (1.52%) than the support at 12.90€ (1.90%), 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 Stora Enso Oyj stock A Buy?

Stora Enso Oyj holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during 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: 6.464 Strong Buy Candidate Upgraded

Predicted Opening Price for Stora Enso Oyj of Monday, May 13, 2024

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