Basic-Fit NV Stock Forecast
Basic-Fit NV stock upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.
(Updated on Apr 24, 2024)
The Basic-Fit NV stock price gained 0.0941% on the last trading day (Wednesday, 24th Apr 2024), rising from 21.26€ to 21.28€. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.79% from a day low at 21.28€ to a day high of 21.66€. The price has risen in 6 of the last 10 days and is up by 0.09% 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, 22 thousand more shares were traded than the day before. In total, 182 thousand shares were bought and sold for approximately 3.88€ million.
Given the current short-term trend, the stock is expected to fall -30.05% during the next 3 months and, with a 90% probability hold a price between 11.23€ and 14.89€ at the end of this 3-month period. 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.
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BFIT.AS Signals & Forecast
Mostly positive signals in the chart today. The Basic-Fit NV stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at 20.90€ and 21.27€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 21, 2024, and so far it has risen 10.26%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for Basic-Fit NV stock
Basic-Fit NV finds support from accumulated volume at 20.68€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved 0.380€ (1.79%) between high and low. For the last week, the stock has had daily average volatility of 2.35%.
Our recommended stop-loss: 20.07€ (-5.69%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 22 days ago.)
Trading Expectations (BFIT.AS) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Basic-Fit NV to open at 21.41€, and during the day (based on 14 day Average True Range), to move between 20.67€ and 21.89€, which gives a possible trading interval of +/-0.612€ (+/-2.88%) up or down from last closing price. If Basic-Fit NV takes out the full calculated possible swing range there will be an estimated 5.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 21.48€ (0.94%) than the support at 20.68€ (2.82%), 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 Basic-Fit NV stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for 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: 1.500 Buy Candidate Upgraded
Predicted Opening Price for Basic-Fit NV of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| 21.41€ ( 0.595%) | 21.28€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BFIT.AS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.79 | 2.38 % | |
| R2 | 21.64 | 1.70 % | ||
| R1 | 21.55 | 1.28 % | ||
| Current price: | 21.28 | |||
| Support | S1 | 21.26 | -0.0869 % | |
| S2 | 21.17 | -0.508 % | ||
| S3 | 21.03 | -1.19 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.86 | 12.12 % | |
| R2 | 21.60 | 1.50 % | ||
| R1 | 21.48 | 0.94 % | ||
| Current price | 21.28 | |||
| Support | S1 | 20.68 | -2.82% | |
| S2 | 19.88 | -6.58% | ||
| S3 | 19.82 | -6.86% |
FAQ
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