Tobii AB (publ) Stock Forecast
High volatility in Tobii AB (publ) stock price on Thursday which ended trading at kr3.58
(Updated on Apr 18, 2024)
The Tobii AB (publ) stock price fell by -6.03% on the last day (Thursday, 18th Apr 2024) from kr3.81 to kr3.58. During the last trading day the stock fluctuated 11.26% from a day low at kr3.55 to a day high of kr3.95. The price has been going up and down for this period, and there has been a 1.3% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -734 thousand shares and in total, 2 million shares were bought and sold for approximately kr8.72 million.
The stock lies the upper part of a very 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 kr3.80 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 -32.43% during the next 3 months and, with a 90% probability hold a price between kr1.35 and kr2.56 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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TOBII.ST Signals & Forecast
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. The Tobii AB (publ) stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at kr3.69 and kr3.68. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 16, 2024, and so far it has fallen -7.06%. Further fall is indicated until a new bottom pivot has been found. 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 Tobii AB (publ) stock
Tobii AB (publ) finds support from accumulated volume at kr3.54 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved kr0.400 between high and low, or 11.26%. For the last week, the stock has had daily average volatility of 8.69%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TOBII.ST) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Tobii AB (publ) to open at kr3.70, and during the day (based on 14 day Average True Range), to move between kr3.23 and kr3.93, which gives a possible trading interval of +/-kr0.350 (+/-9.78%) up or down from last closing price. If Tobii AB (publ) takes out the full calculated possible swing range there will be an estimated 19.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr3.54 (1.28%) than the resistance at kr3.78 (5.42%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Tobii AB (publ) stock A Buy?
Tobii AB (publ) 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Sell candidate.
Current score: -5.508 Strong Sell Candidate Downgraded
Predicted Opening Price for Tobii AB (publ) of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| kr3.70 ( 3.16%) | kr3.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TOBII.ST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.10 | 14.33 % | |
| R2 | 3.94 | 10.07 % | ||
| R1 | 3.85 | 7.43 % | ||
| Current price: | 3.58 | |||
| Support | S1 | 3.54 | -1.10 % | |
| S2 | 3.45 | -3.74 % | ||
| S3 | 3.30 | -8.00 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.82 | 6.64 % | |
| R2 | 3.81 | 6.42 % | ||
| R1 | 3.78 | 5.42 % | ||
| Current price | 3.58 | |||
| Support | S1 | 3.54 | -1.28% | |
| S2 | 2.96 | -17.31% | ||
| S3 | 2.95 | -17.70% |
FAQ
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