Bufab AB (publ) Stock Forecast

Green day on Friday for Bufab AB (publ) stock after gaining 3.19%
(Updated on May 03, 2024)

BUFAB.ST Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, April 29, 2024, and so far it has risen 4.23%. 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 Bufab 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 kr388.95. On a fall, the stock will find some support from the short-term average at kr346.83. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

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

Bufab AB (publ) finds support from accumulated volume at kr342.20 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved kr12.00 between high and low, or 3.51%. For the last week, the stock has had daily average volatility of 3.32%.

Bufab AB (publ) is oversold on RSI14 (22). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

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

Trading Expectations (BUFAB.ST) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Bufab AB (publ) to open at kr348.60, and during the day (based on 14 day Average True Range), to move between kr336.00 and kr363.60, which gives a possible trading interval of +/-kr13.80 (+/-3.95%) up or down from last closing price. If Bufab AB (publ) takes out the full calculated possible swing range there will be an estimated 7.89% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at kr342.20 (2.17%) than the resistance at kr375.60 (7.38%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Bufab AB (publ) stock A Buy?

Bufab 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.

Current score: -2.187 Sell Candidate Unchanged

Predicted Opening Price for Bufab AB (publ) of Monday, May 6, 2024

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