Danske Bank A/S Stock Forecast
Red day on Friday for Danske Bank A/S
(Updated on May 03, 2024)
The Danske Bank A/S stock price fell by -4.61% on the last day (Friday, 3rd May 2024) from kr203.00 to kr193.65. During the last trading day the stock fluctuated 5.17% from a day low at kr189.50 to a day high of kr199.30. The price has risen in 6 of the last 10 days but is still down by -4.56% for this period. Volume has increased on the last day by 4 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 5 million shares were bought and sold for approximately kr953.15 million.
Given the current short-term trend, the stock is expected to rise 5.46% during the next 3 months and, with a 90% probability hold a price between kr204.22 and kr224.95 at the end of this 3-month period.
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DANSKE.CO Signals & Forecast
There are few to no technical positive signals at the moment. The Danske Bank A/S 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 kr201.32 and kr205.01. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 04, 2024, and so far it has fallen -7.57%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Danske Bank A/S stock
Danske Bank A/S finds support from accumulated volume at kr192.90 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved kr9.80 between high and low, or 5.17%. For the last week the stock has had daily average volatility of 2.22%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DANSKE.CO) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Danske Bank A/S to open at kr194.15, and during the day (based on 14 day Average True Range), to move between kr189.47 and kr197.83, which gives a possible trading interval of +/-kr4.18 (+/-2.16%) up or down from last closing price. If Danske Bank A/S takes out the full calculated possible swing range there will be an estimated 4.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr192.90 (0.39%) than the resistance at kr202.50 (4.57%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Danske Bank A/S will release earnings BMO on Friday, May 03, 2024.The consensus among the analysts for the expected earnings (EPS) is $6.53. We will update the financials statements for Danske Bank A/S, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.83% in the first trading day after earnings release.
Is Danske Bank A/S stock A Buy?
The Danske Bank A/S stock holds several negative signals and despite the positive trend, we believe Danske Bank A/S will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.261 Sell Candidate Unchanged
Predicted Opening Price for Danske Bank A/S of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| kr194.15 ( 0.258%) | kr193.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DANSKE.CO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 203.95 | 5.32 % | |
| R2 | 200.21 | 3.39 % | ||
| R1 | 197.89 | 2.19 % | ||
| Current price: | 193.65 | |||
| Support | S1 | 190.41 | -1.67 % | |
| S2 | 188.09 | -2.87 % | ||
| S3 | 184.35 | -4.80 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 206.40 | 6.58 % | |
| R2 | 203.60 | 5.14 % | ||
| R1 | 202.50 | 4.57 % | ||
| Current price | 193.65 | |||
| Support | S1 | 192.90 | -0.387% | |
| S2 | 192.85 | -0.413% | ||
| S3 | 191.65 | -1.03% |
DANSKE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 22, 2024 | Mar 22, 2024 | Mar 22, 2024 | kr0 | 0% |
| 2 | Jul 24, 2023 | Jul 24, 2023 | Jul 24, 2023 | kr7.00 | 4.32% |
| 3 | Mar 18, 2022 | Mar 18, 2022 | Mar 18, 2022 | kr2.00 | 1.77% |
| 4 | Mar 17, 2021 | Mar 17, 2021 | Mar 17, 2021 | kr2.00 | 1.66% |
| 5 | Mar 18, 2020 | Mar 18, 2020 | Mar 18, 2020 | kr8.50 | 11.68% |
FAQ
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