Betsson AB Stock Forecast
Weaker technical forecast for Betsson AB as stock downgraded to Buy Candidate.
(Updated on Jul 02, 2024)
The Betsson AB stock price fell by -0.613% on the last day (Tuesday, 2nd Jul 2024) from kr127.20 to kr126.42. During the last trading day the stock fluctuated 1.53% from a day low at kr125.68 to a day high of kr127.60. The price has risen in 6 of the last 10 days and is up by 6.5% 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 -262 thousand shares and in total, 141 thousand shares were bought and sold for approximately kr17.87 million.
The stock lies in the middle of a wide and strong 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 10.84% during the next 3 months and, with a 90% probability hold a price between kr128.95 and kr150.35 at the end of this 3-month period.
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BETS-B.ST Signals & Forecast
The Betsson AB 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 kr123.19 and kr120.64. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Monday, July 01, 2024, and so far it has fallen -0.613%. Further fall is indicated until a new bottom pivot has been found. 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 Betsson AB stock
Betsson AB finds support from accumulated volume at kr123.20 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 kr1.92 between high and low, or 1.53%. For the last week, the stock has had daily average volatility of 2.19%.
Our recommended stop-loss: kr121.68 (-3.75%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 11 days ago.)
Trading Expectations (BETS-B.ST) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Betsson AB to open at kr126.57, and during the day (based on 14 day Average True Range), to move between kr123.68 and kr129.16, which gives a possible trading interval of +/-kr2.74 (+/-2.17%) up or down from last closing price. If Betsson AB takes out the full calculated possible swing range there will be an estimated 4.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr127.20 (0.62%) than the support at kr123.20 (2.55%), 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 Betsson AB stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Betsson AB stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 3.699 Buy Candidate Downgraded
Predicted Opening Price for Betsson AB of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| kr126.57 ( 0.116%) | kr126.42 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BETS-B.ST
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 128.49 | 1.63% |
| R2 | 127.75 | 1.05% |
| R1 | 127.30 | 0.696% |
| Price | 126.42 | |
| S1 | 125.83 | -0.464% |
| S2 | 125.38 | -0.82% |
| S3 | 124.65 | -1.40% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 127.90 | 1.17% |
| R2 | 127.50 | 0.85% |
| R1 | 127.20 | 0.617% |
| Price | 126.42 | |
| S1 | 123.20 | -2.55% |
| S2 | 122.00 | -3.50% |
| S3 | 121.10 | -4.21% |
BETS-B Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 16, 2024 | May 16, 2024 | May 15, 2024 | kr3.77 | 3.05% |
| 2 | May 08, 2024 | May 08, 2024 | May 15, 2024 | kr7.20 | 5.82% |
| 3 | Sep 27, 2023 | Sep 27, 2023 | Sep 27, 2023 | kr2.60 | 2.25% |
| 4 | Jun 09, 2023 | Jun 09, 2023 | Jun 09, 2023 | kr2.47 | 2.42% |
| 5 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | kr1.97 | 3.22% |
FAQ
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