Volue AS Stock Forecast
On Tuesday, Volue AS stock price gained an impressive 5.90%
(Updated on May 21, 2024)
The Volue AS stock price gained 5.90% on the last trading day (Tuesday, 21st May 2024), rising from kr31.35 to kr33.20. During the last trading day the stock fluctuated 7.89% from a day low at kr31.05 to a day high of kr33.50. The price has risen in 6 of the last 10 days and is up by 11.04% 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, 21 thousand more shares were traded than the day before. In total, 287 thousand shares were bought and sold for approximately kr9.54 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 13.06% during the next 3 months and, with a 90% probability hold a price between kr30.29 and kr39.59 at the end of this 3-month period.
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VOLUE.OL Signals & Forecast
The Volue AS 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 kr32.19 and kr28.70. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, May 14, 2024, and so far it has fallen -4.60%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Volue AS stock
Volue AS finds support from accumulated volume at kr32.10 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 a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved kr2.45 between high and low, or 7.89%. For the last week, the stock has had daily average volatility of 10.51%.
Our recommended stop-loss: kr31.99 (-3.63%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (VOLUE.OL) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect Volue AS to open at kr32.58, and during the day (based on 14 day Average True Range), to move between kr31.49 and kr34.91, which gives a possible trading interval of +/-kr1.71 (+/-5.16%) up or down from last closing price. If Volue AS takes out the full calculated possible swing range there will be an estimated 10.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr32.10 (3.31%) than the resistance at kr34.80 (4.82%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Volue AS stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Volue AS stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.765 Buy Candidate Upgraded
Predicted Opening Price for Volue AS of Wednesday, May 22, 2024
| Fair opening price May 22, 2024 | Current price |
|---|---|
| kr32.58 ( 1.86%) | kr33.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VOLUE.OL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 35.03 | 5.52 % | |
| R2 | 34.10 | 2.70 % | ||
| R1 | 33.52 | 0.96 % | ||
| Current price: | 33.20 | |||
| Support | S1 | 31.65 | -4.68 % | |
| S2 | 31.07 | -6.42 % | ||
| S3 | 30.13 | -9.24 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 34.80 | 4.82 % | ||
| Current price | 33.20 | |||
| Support | S1 | 32.10 | -3.31% | |
| S2 | 29.90 | -9.94% | ||
| S3 | 27.90 | -15.96% |
FAQ
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