Bufab AB (publ) Stock Forecast

Bufab AB (publ) stock price ended at kr374.00 on Friday, after gaining 0.700%.
(Updated on May 17, 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 11.44%. 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. 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 kr380.81. On a fall, the stock will find some support from the short-term average at kr366.14. 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.

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

On the downside, the stock finds support just below today's level from accumulated volume at kr342.20 and kr337.20. 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, Bufab AB (publ) finds support just below today's level at kr342.20. If this is broken, then the next support from accumulated volume will be at kr337.20 and kr335.60.

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 kr6.40 between high and low, or 1.74%. For the last week, the stock has had daily average volatility of 2.12%.

Our recommended stop-loss: kr360.65 (-3.57%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 80 and this increases the risk substantially. There is a buy signal from a pivot bottom found 12 days ago.)

Trading Expectations (BUFAB.ST) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Bufab AB (publ) to open at kr371.87, and during the day (based on 14 day Average True Range), to move between kr363.11 and kr384.89, which gives a possible trading interval of +/-kr10.89 (+/-2.91%) up or down from last closing price. If Bufab AB (publ) takes out the full calculated possible swing range there will be an estimated 5.82% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr397.60 (6.31%) than the support at kr342.20 (8.50%), 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 Bufab AB (publ) stock A Buy?

Bufab AB (publ) holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.487 Hold/Accumulate Unchanged

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

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