Ultimovacs ASA Stock Forecast
Ultimovacs ASA stock price down 0.676% on Thursday
(Updated on May 16, 2024)
The Ultimovacs ASA stock price fell by -0.676% on the last day (Thursday, 16th May 2024) from kr7.40 to kr7.35. During the last trading day the stock fluctuated 4.78% from a day low at kr7.32 to a day high of kr7.67. The price has fallen in 6 of the last 10 days but is still up by 5.3% over the past 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 -213 thousand shares and in total, 195 thousand shares were bought and sold for approximately kr1.43 million.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is -kr5.36, a level that may pose a second chance to hit a runner. According to fan-theory kr63.45 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ULTI.OL 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 Ultimovacs ASA stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at kr8.30. On a fall, the stock will find some support from the short-term average at kr7.15. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -37.71%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Ultimovacs ASA stock
Ultimovacs ASA finds support from accumulated volume at kr7.29 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 much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved kr0.350 between high and low, or 4.78%. For the last week the stock has had daily average volatility of 6.37%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ULTI.OL) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Ultimovacs ASA to open at kr7.45, and during the day (based on 14 day Average True Range), to move between kr6.02 and kr8.68, which gives a possible trading interval of +/-kr1.33 (+/-18.10%) up or down from last closing price. If Ultimovacs ASA takes out the full calculated possible swing range there will be an estimated 36.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr7.29 (0.82%) than the resistance at kr8.00 (8.84%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ultimovacs ASA stock A Buy?
Ultimovacs ASA holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.916 Sell Candidate Unchanged
Predicted Opening Price for Ultimovacs ASA of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| kr7.45 ( 1.32%) | kr7.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ULTI.OL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.80 | 6.08 % | |
| R2 | 7.66 | 4.26 % | ||
| R1 | 7.58 | 3.13 % | ||
| Current price: | 7.35 | |||
| Support | S1 | 7.31 | -0.504 % | |
| S2 | 7.23 | -1.63 % | ||
| S3 | 7.10 | -3.45 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.70 | 18.37 % | |
| R2 | 8.04 | 9.39 % | ||
| R1 | 8.00 | 8.84 % | ||
| Current price | 7.35 | |||
| Support | S1 | 7.29 | -0.82% | |
| S2 | 7.02 | -4.49% | ||
| S3 | 6.93 | -5.71% |
FAQ
Click here for our free guide on how to buy Ultimovacs ASA Stock.
