Axfood AB (publ) Stock Forecast
Weaker technical forecast for Axfood AB (publ) as stock downgraded to Sell Candidate.
(Updated on Jul 02, 2024)
The Axfood AB (publ) stock price fell by -1.31% on the last day (Tuesday, 2nd Jul 2024) from kr281.40 to kr277.70. During the last trading day the stock fluctuated 2.51% from a day low at kr274.90 to a day high of kr281.80. The price has risen in 6 of the last 10 days and is up by 0.14% over the past 2 weeks. 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 -16 thousand shares and in total, 134 thousand shares were bought and sold for approximately kr37.14 million.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -8.79% during the next 3 months and, with a 90% probability hold a price between kr237.78 and kr257.33 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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AXFO.ST Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 10, 2024, and so far it has risen 3.81%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Axfood 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 kr280.61 and kr279.90. A break-up above any of these levels will issue buy signals. 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 Axfood AB (publ) stock
Axfood AB (publ) finds support from accumulated volume at kr277.30 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 kr6.90 between high and low, or 2.51%. For the last week the stock has had daily average volatility of 1.90%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AXFO.ST) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Axfood AB (publ) to open at kr278.13, and during the day (based on 14 day Average True Range), to move between kr272.59 and kr282.81, which gives a possible trading interval of +/-kr5.11 (+/-1.84%) up or down from last closing price. If Axfood 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 support from accumulated volume at kr277.30 (0.14%) than the resistance at kr278.70 (0.36%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Axfood AB (publ) stock A Buy?
Axfood AB (publ) holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, 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: -2.200 Sell Candidate Downgraded
Predicted Opening Price for Axfood AB (publ) of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| kr278.13 ( 0.156%) | kr277.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AXFO.ST
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 285.03 | 2.64% |
| R2 | 282.40 | 1.69% |
| R1 | 280.77 | 1.11% |
| Price | 277.70 | |
| S1 | 275.50 | -0.793% |
| S2 | 273.87 | -1.38% |
| S3 | 271.23 | -2.33% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 304.90 | 9.79% |
| R2 | 282.10 | 1.58% |
| R1 | 278.70 | 0.360% |
| Price | 277.70 | |
| S1 | 277.30 | -0.144% |
| S2 | 273.10 | -1.66% |
| S3 | 273.00 | -1.69% |
AXFO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 19, 2024 | Sep 19, 2024 | Sep 25, 2024 | kr4.25 | 1.53% |
| 2 | Mar 21, 2024 | Mar 21, 2024 | Mar 27, 2024 | kr4.25 | 1.37% |
| 3 | Sep 21, 2023 | Sep 21, 2023 | Sep 27, 2023 | kr4.00 | 1.56% |
| 4 | Mar 23, 2023 | Mar 23, 2023 | Mar 23, 2023 | kr4.15 | 1.70% |
| 5 | Sep 22, 2022 | Sep 22, 2022 | Sep 22, 2022 | kr3.75 | 1.35% |
FAQ
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