Techstep ASA Stock Forecast

Techstep ASA stock price ended at kr9.18 on Tuesday, after losing 0.217%.
(Updated on May 21, 2024)

TECH.OL Signals & Forecast

There are few to no technical positive signals at the moment. The Techstep 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 kr9.61 and kr9.93. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -12.57%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Techstep ASA stock

Techstep ASA finds support from accumulated volume at kr9.10 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 kr0.660 (7.48%) between high and low. For the last week, the stock has had daily average volatility of 6.20%.

Techstep ASA is oversold on RSI14 (23). 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 (TECH.OL) For The Upcoming Trading Day Of Wednesday 22nd

For the upcoming trading day on Wednesday, 22nd we expect Techstep ASA to open at kr9.16, and during the day (based on 14 day Average True Range), to move between kr8.75 and kr9.61, which gives a possible trading interval of +/-kr0.426 (+/-4.64%) up or down from last closing price. If Techstep ASA takes out the full calculated possible swing range there will be an estimated 9.28% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr9.20 (0.22%) than the support at kr9.10 (0.88%), 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 Techstep ASA stock A Buy?

The Techstep ASA stock holds several negative signals and despite the positive trend, we believe Techstep ASA will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -2.195 Sell Candidate Unchanged

Predicted Opening Price for Techstep ASA of Wednesday, May 22, 2024

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