Elisa Oyj Stock Forecast

Stronger technical forecast for Elisa Oyj stock price after Monday trading.
(Updated on Apr 22, 2024)

ELISA.HE Signals & Forecast

Mostly positive signals in the chart today. The Elisa Oyj 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 41.57€ and 42.17€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 6.88%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. The stock had a Golden Star Signal on Friday, March 01, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Elisa Oyj stock

Elisa Oyj finds support from accumulated volume at 42.79€ 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 1.22€ (2.87%) between high and low. For the last week, the stock has had daily average volatility of 3.01%.

Our recommended stop-loss: 41.76€ (-3.30%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 3 days ago.)

Trading Expectations (ELISA.HE) For The Upcoming Trading Day Of Tuesday 23rd

For the upcoming trading day on Tuesday, 23rd we expect Elisa Oyj to open at 43.17€, and during the day (based on 14 day Average True Range), to move between 42.21€ and 44.15€, which gives a possible trading interval of +/-0.97€ (+/-2.24%) up or down from last closing price. If Elisa Oyj takes out the full calculated possible swing range there will be an estimated 4.47% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 43.52€ (0.79%) than the support at 42.79€ (0.90%), 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 Elisa Oyj stock A Buy?

Several short-term signals are positive and the stock has broken the horizontal trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Elisa Oyj stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.474 Buy Candidate Upgraded

Predicted Opening Price for Elisa Oyj of Tuesday, April 23, 2024

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