Alimak Group AB (publ) Stock Forecast
Green day on Friday for Alimak Group AB (publ) stock after gaining 2.16%
(Updated on May 03, 2024)
The Alimak Group AB (publ) stock price gained 2.16% on the last trading day (Friday, 3rd May 2024), rising from kr101.80 to kr104.00. During the last trading day the stock fluctuated 2.96% from a day low at kr101.40 to a day high of kr104.40. The price has risen in 5 of the last 10 days and is up by 10.17% over the past 2 weeks. Volume fell on the last day by -15 thousand shares and in total, 29 thousand shares were bought and sold for approximately kr2.97 million. 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 upper part of a wide and weak 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 kr104.34 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 7.16% during the next 3 months and, with a 90% probability hold a price between kr100.29 and kr111.81 at the end of this 3-month period.
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ALIG.ST Signals & Forecast
The Alimak Group AB (publ) 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 kr100.71 and kr97.48. 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). 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. 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 Monday, April 29, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Alimak Group AB (publ) stock
On the downside, the stock finds support just below today's level from accumulated volume at kr97.20 and kr93.20. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Alimak Group AB (publ) finds support just below today's level at kr97.20. If this is broken, then the next support from accumulated volume will be at kr93.20 and kr87.30.
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 kr3.00 between high and low, or 2.96%. For the last week, the stock has had daily average volatility of 2.94%.
Our recommended stop-loss: kr100.78 (-3.10%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (ALIG.ST) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Alimak Group AB (publ) to open at kr103.27, and during the day (based on 14 day Average True Range), to move between kr101.22 and kr106.78, which gives a possible trading interval of +/-kr2.78 (+/-2.68%) up or down from last closing price. If Alimak Group AB (publ) takes out the full calculated possible swing range there will be an estimated 5.35% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ kr97.20, some kr6.80 (6.54%) from the current price of kr104.00, our system finds the risk reward attractive.
Is Alimak Group AB (publ) 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 Alimak Group AB (publ) stock to perform well in the short-term.
Current score: 3.140 Buy Candidate Unchanged
Predicted Opening Price for Alimak Group AB (publ) of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| kr103.27 ( 0.705%) | kr104.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALIG.ST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 106.27 | 2.18 % | |
| R2 | 105.12 | 1.08 % | ||
| R1 | 104.41 | 0.397 % | ||
| Current price: | 104.00 | |||
| Support | S1 | 102.12 | -1.81 % | |
| S2 | 101.41 | -2.49 % | ||
| S3 | 100.27 | -3.59 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 104.00 | |||
| Support | S1 | 97.20 | -6.54% | |
| S2 | 93.20 | -10.38% | ||
| S3 | 87.30 | -16.06% |
ALIG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 30, 2024 | Apr 30, 2024 | May 07, 2024 | kr2.50 | 2.40% |
| 2 | May 05, 2023 | May 05, 2023 | May 05, 2023 | kr1.82 | 2.33% |
| 3 | May 06, 2022 | May 06, 2022 | May 06, 2022 | kr2.46 | 3.65% |
| 4 | May 07, 2021 | May 07, 2021 | May 07, 2021 | kr0.747 | 0.692% |
| 5 | May 08, 2020 | May 08, 2020 | May 08, 2020 | kr1.31 | 1.72% |
FAQ
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