Duroc AB (publ) Stock Forecast
Duroc AB (publ) stock downgraded from Buy Candidate to Sell Candidate after Friday trading session.
(Updated on May 03, 2024)
The Duroc AB (publ) stock price fell by -2.82% on the last day (Friday, 3rd May 2024) from kr17.75 to kr17.25. During the last trading day the stock fluctuated 8.63% from a day low at kr16.80 to a day high of kr18.25. The price has fallen in 6 of the last 10 days but is still up by 0.88% over the past 2 weeks. Volume has increased on the last day by 35 thousand 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, 51 thousand shares were bought and sold for approximately kr872.35 thousand.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at kr16.99 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 2.05% during the next 3 months and, with a 90% probability hold a price between kr17.34 and kr18.81 at the end of this 3-month period.
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DURC-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 Duroc AB (publ) stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at kr17.63 and kr17.49. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -3.63%. Further fall is indicated until a new bottom pivot has been found. Duroc AB (publ) gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
A sell signal from a double top formation was found on Wednesday, February 21, 2024 with a target of kr17.42. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for Duroc AB (publ) stock
Duroc AB (publ) finds support from accumulated volume at kr17.20 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 kr1.45 between high and low, or 8.63%. For the last week the stock has had daily average volatility of 4.58%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DURC-B.ST) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Duroc AB (publ) to open at kr17.43, and during the day (based on 14 day Average True Range), to move between kr16.63 and kr17.87, which gives a possible trading interval of +/-kr0.623 (+/-3.61%) up or down from last closing price. If Duroc AB (publ) takes out the full calculated possible swing range there will be an estimated 7.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr17.20 (0.29%) than the resistance at kr17.45 (1.16%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Duroc AB (publ) stock A Buy?
The Duroc AB (publ) stock holds several negative signals and despite the positive trend, we believe Duroc AB (publ) will perform weakly in the next couple of days or weeks. Therefore, we 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: -2.374 Sell Candidate Downgraded
Predicted Opening Price for Duroc AB (publ) of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| kr17.43 ( 1.06%) | kr17.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DURC-B.ST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.88 | 9.47 % | |
| R2 | 18.33 | 6.26 % | ||
| R1 | 17.99 | 4.27 % | ||
| Current price: | 17.25 | |||
| Support | S1 | 16.88 | -2.15 % | |
| S2 | 16.54 | -4.13 % | ||
| S3 | 15.98 | -7.34 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.00 | 4.35 % | |
| R2 | 17.50 | 1.45 % | ||
| R1 | 17.45 | 1.16 % | ||
| Current price | 17.25 | |||
| Support | S1 | 17.20 | -0.290% | |
| S2 | 17.10 | -0.87% | ||
| S3 | 17.00 | -1.45% |
DURC-B Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 09, 2022 | Nov 09, 2022 | Nov 09, 2022 | kr0.250 | 1.25% |
| 2 | May 07, 2013 | May 07, 2013 | May 07, 2013 | kr0.400 | 3.62% |
| 3 | May 04, 2012 | May 04, 2012 | May 04, 2012 | kr2.20 | 13.58% |
| 4 | May 07, 2008 | May 07, 2008 | May 07, 2008 | kr1.50 | 5.56% |
FAQ
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