ASSA ABLOY AB Stock Forecast
ASSA ABLOY AB stock upgraded to Hold/Accumulate.
(Updated on May 03, 2024)
The ASSA ABLOY AB stock price gained 1.74% on the last trading day (Friday, 3rd May 2024), rising from $13.51 to $13.74. 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 0.83% from a day low at $13.67 to a day high of $13.78. The price has risen in 6 of the last 10 days but is still down by -0.94% for this period. Volume fell on the last day by -29 thousand shares and in total, 92 thousand shares were bought and sold for approximately $1.26 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 is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect ASSA ABLOY AB stock with a 90% probability to be traded between $13.17 and $14.92 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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ASAZY Signals & Forecast
There are mixed signals in the stock today. The ASSA ABLOY AB stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $14.16. On a fall, the stock will find some support from the short-term average at $13.49. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 4.01%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for ASSA ABLOY AB stock
ASSA ABLOY AB finds support from accumulated volume at $13.64 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.113 between high and low, or 0.83%. For the last week the stock has had daily average volatility of 1.37%.
Our recommended stop-loss: $13.16 (-4.26%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (ASAZY) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect ASSA ABLOY AB to open at $13.73, and during the day (based on 14 day Average True Range), to move between $13.46 and $14.02, which gives a possible trading interval of +/-$0.283 (+/-2.06%) up or down from last closing price. If ASSA ABLOY AB takes out the full calculated possible swing range there will be an estimated 4.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $13.64 (0.76%) than the resistance at $14.06 (2.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is ASSA ABLOY AB stock A Buy?
ASSA ABLOY AB 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.125 Hold/Accumulate Upgraded
Predicted Opening Price for ASSA ABLOY AB of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $13.73 ( 0.0655%) | $13.74 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ASAZY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.84 | 0.757 % | |
| R2 | 13.80 | 0.443 % | ||
| R1 | 13.77 | 0.249 % | ||
| Current price: | 13.74 | |||
| Support | S1 | 13.69 | -0.380 % | |
| S2 | 13.66 | -0.574 % | ||
| S3 | 13.62 | -0.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.98 | 9.02 % | |
| R2 | 14.34 | 4.37 % | ||
| R1 | 14.06 | 2.33 % | ||
| Current price | 13.74 | |||
| Support | S1 | 13.64 | -0.764% | |
| S2 | 13.63 | -0.80% | ||
| S3 | 13.46 | -2.04% |
ASAZY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 08, 2024 | Apr 25, 2024 | May 17, 2024 | $0.0800 | 0.582% |
| 2 | Oct 05, 2023 | Nov 10, 2023 | Dec 01, 2023 | $0.0700 | 0.538% |
| 3 | Jul 26, 2023 | Apr 27, 2023 | May 19, 2023 | $0.113 | 0.95% |
| 4 | Nov 17, 2022 | Nov 21, 2022 | Dec 12, 2022 | $0.0950 | 0.83% |
| 5 | Apr 22, 2022 | Apr 28, 2022 | May 19, 2022 | $0.113 | 0.97% |
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