ASSA ABLOY AB (publ) Stock Forecast
Weaker technical forecast for ASSA ABLOY AB (publ) as stock downgraded to Sell Candidate.
(Updated on Apr 24, 2024)
The ASSA ABLOY AB (publ) stock price fell by -3.03% on the last day (Wednesday, 24th Apr 2024) from kr310.30 to kr300.90. During the last trading day the stock fluctuated 3.40% from a day low at kr299.70 to a day high of kr309.90. The price has risen in 6 of the last 10 days but is still down by -1.76% for this period. Volume has increased on the last day by 665 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 3 million shares were bought and sold for approximately kr762.97 million.
Given the current short-term trend, the stock is expected to rise 9.68% during the next 3 months and, with a 90% probability hold a price between kr330.03 and kr355.65 at the end of this 3-month period.
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ASSA-B.ST Signals & Forecast
There are few to no technical positive signals at the moment. The ASSA ABLOY AB (publ) stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at kr305.90 and kr306.19. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -4.20%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for ASSA ABLOY AB (publ) stock
ASSA ABLOY AB (publ) finds support from accumulated volume at kr295.40 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved kr10.20 between high and low, or 3.40%. For the last week the stock has had daily average volatility of 1.95%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ASSA-B.ST) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect ASSA ABLOY AB (publ) to open at kr303.50, and during the day (based on 14 day Average True Range), to move between kr295.36 and kr306.44, which gives a possible trading interval of +/-kr5.54 (+/-1.84%) up or down from last closing price. If ASSA ABLOY AB (publ) takes out the full calculated possible swing range there will be an estimated 3.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr306.10 (1.73%) than the support at kr295.40 (1.83%), 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 ASSA ABLOY AB (publ) stock A Buy?
The ASSA ABLOY AB (publ) stock holds several negative signals and despite the positive trend, we believe ASSA ABLOY 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: -2.257 Sell Candidate Downgraded
Predicted Opening Price for ASSA ABLOY AB (publ) of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| kr303.50 ( 0.86%) | kr300.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ASSA-B.ST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 313.70 | 4.25 % | |
| R2 | 309.80 | 2.96 % | ||
| R1 | 307.40 | 2.16 % | ||
| Current price: | 300.90 | |||
| Support | S1 | 299.60 | -0.431 % | |
| S2 | 297.20 | -1.23 % | ||
| S3 | 293.30 | -2.53 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 307.50 | 2.19 % | |
| R2 | 306.30 | 1.79 % | ||
| R1 | 306.10 | 1.73 % | ||
| Current price | 300.90 | |||
| Support | S1 | 295.40 | -1.83% | |
| S2 | 287.00 | -4.62% | ||
| S3 | 286.70 | -4.72% |
ASSA-B Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 08, 2024 | Nov 08, 2024 | Nov 14, 2024 | kr2.70 | 0.90% |
| 2 | Apr 25, 2024 | Apr 25, 2024 | May 02, 2024 | kr2.70 | 0.90% |
| 3 | Apr 27, 2023 | Apr 27, 2023 | Apr 27, 2023 | kr2.40 | 0.99% |
| 4 | Nov 21, 2022 | Nov 21, 2022 | Nov 21, 2022 | kr2.10 | 0.88% |
| 5 | Apr 28, 2022 | Apr 28, 2022 | Apr 28, 2022 | kr2.10 | 0.86% |
FAQ
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