Novacyt S.A. Stock Forecast
Green day on Friday for Novacyt S.A.
(Updated on Apr 26, 2024)
The Novacyt S.A. stock price gained 2.89% on the last trading day (Friday, 26th Apr 2024), rising from 0.796€ to 0.82€. During the last trading day the stock fluctuated 6.92% from a day low at 0.766€ to a day high of 0.82€. The price has risen in 7 of the last 10 days and is up by 38.11% 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, 28 thousand more shares were traded than the day before. In total, 159 thousand shares were bought and sold for approximately 130.62€ thousand.
The stock lies in the upper part of a very wide and strong rising 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 0.84€ will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 20.81% during the next 3 months and, with a 90% probability hold a price between 0.662€ and 1.02€ at the end of this 3-month period.
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ALNOV.PA Signals & Forecast
The Novacyt S.A. 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 0.80€ and 0.599€. 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). Novacyt S.A. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 Wednesday, April 24, 2024, and so far it has fallen -2.50%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Novacyt S.A. stock
Novacyt S.A. finds support from accumulated volume at 0.780€ 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 0.0530€ between high and low, or 6.92%. For the last week, the stock has had daily average volatility of 7.97%.
Our recommended stop-loss: 0.782€ (-4.46%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (ALNOV.PA) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Novacyt S.A. to open at 0.80€, and during the day (based on 14 day Average True Range), to move between 0.764€ and 0.87€, which gives a possible trading interval of +/-0.0551€ (+/-6.73%) up or down from last closing price. If Novacyt S.A. takes out the full calculated possible swing range there will be an estimated 13.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 0.83€ (1.34%) than the support at 0.780€ (4.76%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Novacyt S.A. 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 Novacyt S.A. stock to perform well in the short-term.
Current score: 2.332 Buy Candidate Unchanged
Predicted Opening Price for Novacyt S.A. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| 0.80€ ( 2.16%) | 0.82€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALNOV.PA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.85 | 4.31 % | |
| R2 | 0.83 | 1.84 % | ||
| R1 | 0.82 | 0.315 % | ||
| Current price: | 0.82 | |||
| Support | S1 | 0.781 | -4.63 % | |
| S2 | 0.769 | -6.16 % | ||
| S3 | 0.748 | -8.63 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0.84 | 2.56 % | ||
| R1 | 0.83 | 1.34 % | ||
| Current price | 0.82 | |||
| Support | S1 | 0.780 | -4.76% | |
| S2 | 0.750 | -8.42% | ||
| S3 | 0.714 | -12.82% |
FAQ
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