Addnode Group AB (publ) Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Addnode Group AB (publ) stock downgraded from Buy Candidate to Sell Candidate after Friday trading session.
(Updated on Jun 14, 2024)
The Addnode Group AB (publ) stock price fell by -2.55% on the last day (Friday, 14th Jun 2024) from kr117.50 to kr114.50. During the last trading day the stock fluctuated 3.24% from a day low at kr114.30 to a day high of kr118.00. The price has risen in 6 of the last 10 days but is still down by -5.37% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -43 thousand shares and in total, 63 thousand shares were bought and sold for approximately kr7.24 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at kr113.49 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 8.30% during the next 3 months and, with a 90% probability hold a price between kr122.91 and kr136.81 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ANOD-B.ST Signals & Forecast
There are few to no technical positive signals at the moment. The Addnode Group AB (publ) stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at kr119.36 and kr117.53. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 23, 2024, and so far it has fallen -7.59%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Addnode Group AB (publ) stock
Addnode Group AB (publ) finds support from accumulated volume at kr114.00 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 kr3.70 (3.24%) between high and low. For the last week, the stock has had daily average volatility of 3.75%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ANOD-B.ST) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect Addnode Group AB (publ) to open at kr115.60, and during the day (based on 14 day Average True Range), to move between kr110.57 and kr118.43, which gives a possible trading interval of +/-kr3.93 (+/-3.43%) up or down from last closing price. If Addnode Group AB (publ) takes out the full calculated possible swing range there will be an estimated 6.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr114.90 (0.35%) than the support at kr114.00 (0.44%), 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 Addnode Group AB (publ) stock A Buy?
The Addnode Group AB (publ) stock holds several negative signals and despite the positive trend, we believe Addnode Group AB (publ) will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. 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 Sell candidate.
Current score: -4.508 Sell Candidate Downgraded
Predicted Opening Price for Addnode Group AB (publ) of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| kr115.60 ( 0.96%) | kr114.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ANOD-B.ST
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 119.30 | 4.19% |
| R2 | 117.89 | 2.96% |
| R1 | 117.01 | 2.20% |
| Price | 114.50 | |
| S1 | 114.19 | -0.274% |
| S2 | 113.31 | -1.04% |
| S3 | 111.90 | -2.27% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 123.20 | 7.60% |
| R2 | 121.20 | 5.85% |
| R1 | 114.90 | 0.349% |
| Price | 114.50 | |
| S1 | 114.00 | -0.437% |
| S2 | 108.00 | -5.68% |
| S3 | 105.70 | -7.69% |
ANOD-B Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 08, 2024 | May 08, 2024 | May 15, 2024 | kr1.00 | 0.87% |
| 2 | May 05, 2023 | May 05, 2023 | May 05, 2023 | kr1.00 | 0.755% |
| 3 | May 05, 2022 | May 05, 2022 | May 05, 2022 | kr0.750 | 0.80% |
| 4 | May 07, 2021 | May 07, 2021 | May 07, 2021 | kr0.625 | 0.85% |
| 5 | May 08, 2020 | May 08, 2020 | May 08, 2020 | kr0.750 | 1.86% |
FAQ
Click here for our free guide on how to buy Addnode Group AB (publ) Stock.
