Abl Group Asa Stock Forecast
Evaluation of Abl Group Asa stock downgraded after the last trading session.
(Updated on Jun 28, 2024)
The Abl Group Asa stock price gained 0.413% on the last trading day (Friday, 28th Jun 2024), rising from kr12.10 to kr12.15. During the last trading day the stock fluctuated 2.50% from a day low at kr12.00 to a day high of kr12.30. The price has risen in 4 of the last 10 days and is up by 2.1% over the past 2 weeks. Volume fell on the last day by -174 thousand shares and in total, 18 thousand shares were bought and sold for approximately kr223.34 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.50% during the next 3 months and, with a 90% probability hold a price between kr11.17 and kr11.94 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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ABL.OL Signals & Forecast
The Abl Group Asa 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 kr11.97 and kr12.09. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has risen 3.85%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Abl Group Asa stock
Abl Group Asa finds support from accumulated volume at kr12.10 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved kr0.300 between high and low, or 2.50%. For the last week the stock has had daily average volatility of 1.69%
Our recommended stop-loss: kr11.49 (-5.46%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 19 days ago.)
Trading Expectations (ABL.OL) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Abl Group Asa to open at kr12.15, and during the day (based on 14 day Average True Range), to move between kr11.88 and kr12.42, which gives a possible trading interval of +/-kr0.273 (+/-2.25%) up or down from last closing price. If Abl Group Asa takes out the full calculated possible swing range there will be an estimated 4.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr12.10 (0.41%) than the resistance at kr12.40 (2.06%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Abl Group Asa stock A Buy?
Abl Group Asa holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.640 Hold/Accumulate Downgraded
Predicted Opening Price for Abl Group Asa of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| kr12.15 ( 0%) | kr12.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ABL.OL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.45 | 2.47% |
| R2 | 12.34 | 1.53% |
| R1 | 12.26 | 0.94% |
| Price | 12.15 | |
| S1 | 12.04 | -0.94% |
| S2 | 11.96 | -1.53% |
| S3 | 11.85 | -2.47% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.75 | 4.94% |
| R2 | 12.50 | 2.88% |
| R1 | 12.40 | 2.06% |
| Price | 12.15 | |
| S1 | 12.10 | -0.412% |
| S2 | 12.00 | -1.23% |
| S3 | 11.90 | -2.06% |
ABL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 30, 2024 | May 30, 2024 | Jun 17, 2024 | kr0.400 | 3.38% |
| 2 | Oct 30, 2023 | Oct 30, 2023 | Nov 20, 2023 | kr0.350 | 2.67% |
| 3 | Jun 01, 2023 | Jun 01, 2023 | Jun 15, 2023 | kr0.350 | 2.20% |
| 4 | Nov 07, 2022 | Nov 07, 2022 | Nov 11, 2022 | kr0.300 | 2.17% |
| 5 | Jun 02, 2022 | Jun 02, 2022 | Jun 17, 2022 | kr0.300 | 2.21% |
FAQ
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