StrongPoint ASA Stock Forecast

StrongPoint ASA stock price ended at kr11.20 on Friday, after losing 0%.
(Updated on May 03, 2024)

STRO.OL Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 0.90%. Further rise is indicated until a new top pivot has been found. Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". Some negative signals were issued as well, and these may have some influence on the near short-term development. The StrongPoint ASA stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at kr11.67 and kr12.94. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for StrongPoint ASA stock

StrongPoint ASA finds support from accumulated volume at kr11.10 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 kr0.300 between high and low, or 2.74%. For the last week, the stock has had daily average volatility of 3.48%.

StrongPoint ASA is oversold on RSI14 (19). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (STRO.OL) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect StrongPoint ASA to open at kr11.13, and during the day (based on 14 day Average True Range), to move between kr10.78 and kr11.62, which gives a possible trading interval of +/-kr0.424 (+/-3.79%) up or down from last closing price. If StrongPoint ASA takes out the full calculated possible swing range there will be an estimated 7.58% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at kr11.10 (0.89%) than the resistance at kr13.10 (16.96%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is StrongPoint ASA stock A Buy?

StrongPoint ASA holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -3.288 Sell Candidate Unchanged

Predicted Opening Price for StrongPoint ASA of Monday, May 6, 2024

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