Volue AS Stock Forecast
Volue AS stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on Jun 14, 2024)
The Volue AS stock price fell by -1.63% on the last day (Friday, 14th Jun 2024) from kr30.65 to kr30.15. During the last trading day the stock fluctuated 3.18% from a day low at kr29.85 to a day high of kr30.80. The price has fallen in 7 of the last 10 days and is down by -10.27% for this period. Volume has increased on the last day by 9 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 51 thousand shares were bought and sold for approximately kr1.55 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 14.50% during the next 3 months and, with a 90% probability hold a price between kr32.38 and kr41.70 at the end of this 3-month period.
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VOLUE.OL Signals & Forecast
There are few to no technical positive signals at the moment. The Volue AS 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 kr30.36 and kr30.46. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 14, 2024, and so far it has fallen -13.36%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Volue AS stock
Volue AS finds support from accumulated volume at kr29.90 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 kr0.95 between high and low, or 3.18%. For the last week, the stock has had daily average volatility of 3.32%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (VOLUE.OL) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect Volue AS to open at kr30.27, and during the day (based on 14 day Average True Range), to move between kr28.79 and kr31.51, which gives a possible trading interval of +/-kr1.36 (+/-4.52%) up or down from last closing price. If Volue AS takes out the full calculated possible swing range there will be an estimated 9.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr29.90 (0.83%) than the resistance at kr32.10 (6.47%), 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?
The Volue AS stock holds several negative signals and despite the positive trend, we believe Volue AS will perform weakly in the next couple of days or weeks. Therefore, we 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 Sell candidate.
Current score: -2.926 Sell Candidate Downgraded
Predicted Opening Price for Volue AS of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| kr30.27 ( 0.387%) | kr30.15 |
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 | |
|---|---|---|
| R3 | 31.22 | 3.54% |
| R2 | 30.85 | 2.33% |
| R1 | 30.63 | 1.59% |
| Price | 30.15 | |
| S1 | 29.90 | -0.82% |
| S2 | 29.68 | -1.56% |
| S3 | 29.32 | -2.76% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 34.80 | 15.42% |
| R2 | 32.95 | 9.29% |
| R1 | 32.10 | 6.47% |
| Price | 30.15 | |
| S1 | 29.90 | -0.83% |
| S2 | 28.20 | -6.47% |
| S3 | 27.90 | -7.46% |
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