Axfood AB (publ) Stock Forecast
Stronger technical forecast for Axfood AB (publ) stock price after Friday trading.
(Updated on May 17, 2024)
The Axfood AB (publ) stock price fell by -0.174% on the last day (Friday, 17th May 2024) from kr287.40 to kr286.90. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 0.98% from a day low at kr286.90 to a day high of kr289.70. The price has been going up and down for this period, and there has been a 1.49% gain for the last 2 weeks. Volume has increased on the last day by 55 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, 285 thousand shares were bought and sold for approximately kr81.74 million.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at kr281.59 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Axfood AB (publ) stock with a 90% probability to be traded between kr282.79 and kr313.63 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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AXFO.ST Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 26, 2024, and so far it has risen 1.99%. 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. 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 kr291.94 and kr294.98. A break-up above any of these levels will issue buy signals. 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 Axfood AB (publ) stock
Axfood AB (publ) finds support from accumulated volume at kr285.40 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 kr2.80 between high and low, or 0.98%. For the last week the stock has had daily average volatility of 1.75%.
Our recommended stop-loss: kr273.58 (-4.64%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 31 days ago.)
Trading Expectations (AXFO.ST) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Axfood AB (publ) to open at kr287.83, and during the day (based on 14 day Average True Range), to move between kr281.24 and kr292.56, which gives a possible trading interval of +/-kr5.66 (+/-1.97%) up or down from last closing price. If Axfood AB (publ) takes out the full calculated possible swing range there will be an estimated 3.94% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr288.00 (0.38%) than the support at kr285.40 (0.52%), 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 Axfood AB (publ) stock A Buy?
Axfood AB (publ) holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.524 Hold/Accumulate Upgraded
Predicted Opening Price for Axfood AB (publ) of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| kr287.83 ( 0.325%) | kr286.90 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 290.63 | 1.30 % | |
| R2 | 289.56 | 0.93 % | ||
| R1 | 288.90 | 0.698 % | ||
| Current price: | 286.90 | |||
| Support | S1 | 286.76 | -0.0475 % | |
| S2 | 286.10 | -0.278 % | ||
| S3 | 285.03 | -0.651 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 290.00 | 1.08 % | |
| R2 | 289.40 | 0.87 % | ||
| R1 | 288.00 | 0.383 % | ||
| Current price | 286.90 | |||
| Support | S1 | 285.40 | -0.523% | |
| S2 | 282.00 | -1.71% | ||
| S3 | 281.30 | -1.95% |
AXFO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 19, 2024 | Sep 19, 2024 | Sep 25, 2024 | kr4.25 | 1.48% |
| 2 | Mar 21, 2024 | Mar 21, 2024 | Mar 27, 2024 | kr4.25 | 1.37% |
| 3 | Mar 23, 2023 | Mar 23, 2023 | Mar 23, 2023 | kr4.15 | 1.70% |
| 4 | Sep 22, 2022 | Sep 22, 2022 | Sep 22, 2022 | kr3.75 | 1.35% |
| 5 | Mar 24, 2022 | Mar 24, 2022 | Mar 24, 2022 | kr3.97 | 1.33% |
FAQ
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