Byggmax Group AB (publ) Stock Forecast
Big movements in Byggmax Group AB (publ) stock price on Tuesday moving 14.00% between high and low
(Updated on Apr 23, 2024)
The Byggmax Group AB (publ) stock price gained 0.179% on the last trading day (Tuesday, 23rd Apr 2024), rising from kr33.56 to kr33.62. During the last trading day the stock fluctuated 14.00% from a day low at kr31.00 to a day high of kr35.34. The price has been going up and down for this period, and there has been a -9.48% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 454 thousand more shares were traded than the day before. In total, 574 thousand shares were bought and sold for approximately kr19.30 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Byggmax Group AB (publ) stock with a 90% probability to be traded between kr31.97 and kr37.25 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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BMAX.ST Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 0.418%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Byggmax Group 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 kr34.39 and kr34.57. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Byggmax Group AB (publ) stock
Byggmax Group AB (publ) finds support from accumulated volume at kr33.48 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 kr4.34 between high and low, or 14.00%. For the last week, the stock has had daily average volatility of 4.84%.
Our recommended stop-loss: kr31.57 (-6.09%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (BMAX.ST) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Byggmax Group AB (publ) to open at kr33.32, and during the day (based on 14 day Average True Range), to move between kr32.29 and kr34.95, which gives a possible trading interval of +/-kr1.33 (+/-3.94%) up or down from last closing price. If Byggmax Group AB (publ) takes out the full calculated possible swing range there will be an estimated 7.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr33.66 (0.12%) than the support at kr33.48 (0.42%), 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 Byggmax Group AB (publ) stock A Buy?
Byggmax Group 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.
Current score: -0.598 Hold/Accumulate Unchanged
Predicted Opening Price for Byggmax Group AB (publ) of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| kr33.32 ( 0.89%) | kr33.62 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BMAX.ST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 37.66 | 12.02 % | |
| R2 | 36.00 | 7.09 % | ||
| R1 | 34.98 | 4.04 % | ||
| Current price: | 33.62 | |||
| Support | S1 | 31.66 | -5.82 % | |
| S2 | 30.64 | -8.87 % | ||
| S3 | 28.98 | -13.80 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 36.10 | 7.38 % | |
| R2 | 35.12 | 4.46 % | ||
| R1 | 33.66 | 0.119 % | ||
| Current price | 33.62 | |||
| Support | S1 | 33.48 | -0.416% | |
| S2 | 33.16 | -1.37% | ||
| S3 | 32.72 | -2.68% |
BMAX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 07, 2024 | May 07, 2024 | May 14, 2024 | kr0.500 | 1.51% |
| 2 | May 06, 2022 | May 06, 2022 | May 06, 2022 | kr4.00 | 6.04% |
| 3 | May 07, 2021 | May 07, 2021 | May 07, 2021 | kr2.75 | 3.63% |
| 4 | May 07, 2020 | May 07, 2020 | May 07, 2020 | kr1.16 | 2.59% |
| 5 | May 11, 2018 | May 11, 2018 | May 11, 2018 | kr2.50 | 5.30% |
FAQ
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