Bergman & Beving AB (publ) Stock Forecast

Green day on Friday for Bergman & Beving AB (publ) stock after gaining 4.95%
(Updated on May 10, 2024)

BERG-B.ST Signals & Forecast

Mostly positive signals in the chart today. The Bergman & Beving AB (publ) stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at kr229.50 and kr215.96. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 17.03%. 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). Volume is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for Bergman & Beving AB (publ) stock

On the downside, the stock finds support just below today's level from accumulated volume at kr218.00 and kr212.50. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Bergman & Beving AB (publ) finds support just below today's level at kr218.00. If this is broken, then the next support from accumulated volume will be at kr212.50 and kr191.00.

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 kr11.00 between high and low, or 4.72%. For the last week, the stock has had daily average volatility of 3.14%.

The Bergman & Beving AB (publ) stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: kr235.75 (-3.38%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 81 and this increases the risk substantially. There is a buy signal from a pivot bottom found 14 days ago.)

Trading Expectations (BERG-B.ST) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect Bergman & Beving AB (publ) to open at kr240.33, and during the day (based on 14 day Average True Range), to move between kr237.69 and kr250.31, which gives a possible trading interval of +/-kr6.31 (+/-2.59%) up or down from last closing price. If Bergman & Beving AB (publ) takes out the full calculated possible swing range there will be an estimated 5.18% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ kr218.00, some kr26.00 (10.66%) from the current price of kr244.00, our system finds the risk reward attractive.

Is Bergman & Beving AB (publ) stock A Buy?

Bergman & Beving AB (publ) holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.

Current score: 6.687 Strong Buy Candidate Unchanged

Predicted Opening Price for Bergman & Beving AB (publ) of Monday, May 13, 2024

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