Bonava AB (publ) Stock Forecast

Bonava AB (publ) stock downgraded to Sell Candidate
(Updated on May 17, 2024)

BONAV-B.ST Signals & Forecast

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 Bonava AB (publ) stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at kr10.20. On a fall, the stock will find some support from the short-term average at kr9.88. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Friday, April 12, 2024, and so far it has fallen -9.73%. 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 Bonava AB (publ) stock

On the downside, the stock finds support just below today's level from accumulated volume at kr9.18 and kr8.59. 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, Bonava AB (publ) finds support just below today's level at kr9.18. If this is broken, then the next support from accumulated volume will be at kr8.59 and kr8.31.

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 kr0.240 between high and low, or 2.42%. For the last week, the stock has had daily average volatility of 3.53%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (BONAV-B.ST) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Bonava AB (publ) to open at kr9.99, and during the day (based on 14 day Average True Range), to move between kr9.46 and kr10.40, which gives a possible trading interval of +/-kr0.469 (+/-4.72%) up or down from last closing price. If Bonava AB (publ) takes out the full calculated possible swing range there will be an estimated 9.44% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr10.56 (6.34%) than the support at kr9.18 (7.55%), 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 Bonava AB (publ) stock A Buy?

Bonava AB (publ) holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.

Current score: -2.391 Sell Candidate Downgraded

Predicted Opening Price for Bonava AB (publ) of Monday, May 20, 2024

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