ASSA ABLOY AB (publ) Stock Forecast

ASSA ABLOY AB (publ) stock upgraded to Hold/Accumulate.
(Updated on May 03, 2024)

ASSA-B.ST Signals & Forecast

There are mixed signals in the stock today. The ASSA ABLOY AB (publ) 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 kr305.62. On a fall, the stock will find some support from the short-term average at kr297.41. 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). A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has risen 1.26%. Further rise is indicated until a new top pivot has been found. 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.

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 kr5.40 between high and low, or 1.84%. For the last week the stock has had daily average volatility of 1.54%.

Our recommended stop-loss: kr282.65 (-5.18%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 1 day ago.)

Trading Expectations (ASSA-B.ST) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect ASSA ABLOY AB (publ) to open at kr297.10, and during the day (based on 14 day Average True Range), to move between kr292.56 and kr303.64, which gives a possible trading interval of +/-kr5.54 (+/-1.86%) 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 3.72% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at kr295.40 (0.91%) than the resistance at kr306.10 (2.68%), 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 (publ) stock A Buy?

ASSA ABLOY AB (publ) 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: 0.440 Hold/Accumulate Upgraded

Predicted Opening Price for ASSA ABLOY AB (publ) of Monday, May 6, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.