XXL ASA Stock Forecast

XXL ASA stock price took a fall of -5.15% on Friday
(Updated on Apr 26, 2024)

XXL.OL Signals & Forecast

There are few to no technical positive signals at the moment. The XXL ASA 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 kr0.797 and kr0.799. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -19.68%. 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 XXL ASA stock

XXL ASA finds support from accumulated volume at kr0.730 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 kr0.0450 between high and low, or 5.98%. For the last week, the stock has had daily average volatility of 6.70%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (XXL.OL) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect XXL ASA to open at kr0.768, and during the day (based on 14 day Average True Range), to move between kr0.699 and kr0.81, which gives a possible trading interval of +/-kr0.0561 (+/-7.43%) up or down from last closing price. If XXL ASA takes out the full calculated possible swing range there will be an estimated 14.87% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at kr0.730 (3.31%) than the resistance at kr0.81 (6.75%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is XXL ASA stock A Buy?

XXL ASA 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 Sell to a Strong Sell candidate.

Current score: -5.260 Strong Sell Candidate Downgraded

Predicted Opening Price for XXL ASA of Monday, April 29, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.