Beijer Ref AB (publ) Stock Forecast
Beijer Ref AB (publ) stock upgraded to Buy Candidate.
(Updated on May 03, 2024)
The Beijer Ref AB (publ) stock price gained 1.58% on the last trading day (Friday, 3rd May 2024), rising from kr152.35 to kr154.75. During the last trading day the stock fluctuated 2.77% from a day low at kr151.80 to a day high of kr156.00. The price has been going up and down for this period, and there has been a 8.6% gain for the last 2 weeks. Volume fell on the last day by -437 thousand shares and in total, 319 thousand shares were bought and sold for approximately kr49.42 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 lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 8.18% during the next 3 months and, with a 90% probability hold a price between kr154.12 and kr180.97 at the end of this 3-month period.
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BEIJ-B.ST Signals & Forecast
A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -4.48%. 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). Some positive signals were issued as well, and these may have some influence on the near short-term development. The Beijer Ref AB (publ) stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately kr158.17. On a fall, the stock will find some support from the long-term average at approximately kr148.66. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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.
A sell signal from a double top formation was found on Wednesday, April 24, 2024 and based on theory for this formation the price should fall by -4.34% to kr148.03 within 18 trading days since signal was issued (Monday, May 06, 2024).
Support, Risk & Stop-loss for Beijer Ref AB (publ) stock
Beijer Ref AB (publ) finds support from accumulated volume at kr147.70 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved kr4.20 between high and low, or 2.77%. For the last week, the stock has had daily average volatility of 3.18%.
Our recommended stop-loss: kr147.49 (-4.69%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (BEIJ-B.ST) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Beijer Ref AB (publ) to open at kr154.18, and during the day (based on 14 day Average True Range), to move between kr148.84 and kr160.66, which gives a possible trading interval of +/-kr5.91 (+/-3.82%) up or down from last closing price. If Beijer Ref AB (publ) takes out the full calculated possible swing range there will be an estimated 7.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr155.00 (0.16%) than the support at kr147.70 (4.56%), 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 Beijer Ref AB (publ) stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.565 Buy Candidate Upgraded
Predicted Opening Price for Beijer Ref AB (publ) of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| kr154.18 ( 0.366%) | kr154.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BEIJ-B.ST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 158.38 | 2.35 % | |
| R2 | 156.78 | 1.31 % | ||
| R1 | 155.79 | 0.671 % | ||
| Current price: | 154.75 | |||
| Support | S1 | 152.58 | -1.40 % | |
| S2 | 151.59 | -2.04 % | ||
| S3 | 149.98 | -3.08 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 162.30 | 4.88 % | |
| R2 | 162.00 | 4.68 % | ||
| R1 | 155.00 | 0.162 % | ||
| Current price | 154.75 | |||
| Support | S1 | 147.70 | -4.56% | |
| S2 | 145.90 | -5.72% | ||
| S3 | 144.70 | -6.49% |
BEIJ-B Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 24, 2024 | Oct 24, 2024 | Oct 30, 2024 | kr0.650 | 0.418% |
| 2 | Apr 24, 2024 | Apr 24, 2024 | Apr 30, 2024 | kr0.650 | 0.410% |
| 3 | Apr 26, 2023 | Apr 26, 2023 | Apr 26, 2023 | kr0.470 | 0.289% |
| 4 | Oct 10, 2022 | Oct 10, 2022 | Oct 10, 2022 | kr0.458 | 0.379% |
| 5 | Apr 08, 2022 | Apr 08, 2022 | Apr 08, 2022 | kr0.549 | 0.334% |
FAQ
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