Theon International Plc Stock Forecast
Theon International Plc stock price up 1.86% on Wednesday
(Updated on May 22, 2024)
The Theon International Plc stock price gained 1.86% on the last trading day (Wednesday, 22nd May 2024), rising from 12.78€ to 13.02€. During the last trading day the stock fluctuated 2.71% from a day low at 12.67€ to a day high of 13.02€. The price has risen in 6 of the last 10 days and is up by 10.98% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 39 thousand more shares were traded than the day before. In total, 63 thousand shares were bought and sold for approximately 824.24€ thousand.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at 13.55€ will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -2.94% during the next 3 months and, with a 90% probability hold a price between 10.54€ and 13.16€ 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.
THEON.AS Signals & Forecast
Mostly positive signals in the chart today. The Theon International Plc 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 12.73€ and 12.31€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has risen 18.89%. 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). Theon International Plc 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. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Theon International Plc stock
Theon International Plc finds support from accumulated volume at 12.85€ 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 0.344€ between high and low, or 2.71%. For the last week, the stock has had daily average volatility of 2.44%.
The Theon International Plc stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: 12.56€ (-3.48%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 33 days ago.)
Trading Expectations (THEON.AS) For The Upcoming Trading Day Of Thursday 23rd
For the upcoming trading day on Thursday, 23rd we expect Theon International Plc to open at 12.90€, and during the day (based on 14 day Average True Range), to move between 12.48€ and 13.55€, which gives a possible trading interval of +/-0.534€ (+/-4.10%) up or down from last closing price. If Theon International Plc takes out the full calculated possible swing range there will be an estimated 8.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 13.07€ (0.40%) than the support at 12.85€ (1.28%), 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 Theon International Plc stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 3.753 Buy Candidate Unchanged
Predicted Opening Price for Theon International Plc of Thursday, May 23, 2024
| Fair opening price May 23, 2024 | Current price |
|---|---|
| 12.90€ ( 0.88%) | 13.02€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for THEON.AS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.25 | 1.76 % | |
| R2 | 13.12 | 0.752 % | ||
| R1 | 13.03 | 0.129 % | ||
| Current price: | 13.02 | |||
| Support | S1 | 12.77 | -1.89 % | |
| S2 | 12.69 | -2.51 % | ||
| S3 | 12.56 | -3.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.78 | 5.85 % | |
| R2 | 13.70 | 5.24 % | ||
| R1 | 13.07 | 0.399 % | ||
| Current price | 13.02 | |||
| Support | S1 | 12.85 | -1.28% | |
| S2 | 12.68 | -2.57% | ||
| S3 | 12.50 | -3.98% |
FAQ
Click here for our free guide on how to buy Theon International Plc Stock.
