Eastnine AB (publ) Stock Forecast
Eastnine AB (publ) stock downgraded from Hold/Accumulate to Sell Candidate after Monday trading session.
(Updated on Jun 24, 2024)
The Eastnine AB (publ) stock price fell by -0.91% on the last day (Monday, 24th Jun 2024) from kr44.00 to kr43.60. During the last trading day the stock fluctuated 2.94% from a day low at kr42.55 to a day high of kr43.80. The price has fallen in 6 of the last 10 days and is down by -1.58% for this period. Volume has increased on the last day by 28 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, 57 thousand shares were bought and sold for approximately kr2.47 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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EAST.ST Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 15, 2024, and so far it has risen 6.25%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Eastnine AB (publ) 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 kr43.84 and kr63.52. A break-up above any of these levels will issue buy signals. 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 Eastnine AB (publ) stock
Eastnine AB (publ) finds support from accumulated volume at kr43.30 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 kr1.25 between high and low, or 2.94%. For the last week, the stock has had daily average volatility of 2.72%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EAST.ST) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect Eastnine AB (publ) to open at kr43.32, and during the day (based on 14 day Average True Range), to move between kr41.00 and kr46.20, which gives a possible trading interval of +/-kr2.60 (+/-5.96%) up or down from last closing price. If Eastnine AB (publ) takes out the full calculated possible swing range there will be an estimated 11.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr43.65 (0.11%) than the support at kr43.30 (0.69%), 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 Eastnine AB (publ) stock A Buy?
Eastnine AB (publ) holds several negative signals and is within a very wide and falling trend, so we believe 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 Hold/Accumulate to a Sell candidate.
Current score: -2.495 Sell Candidate Downgraded
Predicted Opening Price for Eastnine AB (publ) of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| kr43.32 ( 0.650%) | kr43.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EAST.ST
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 44.57 | 2.22% |
| R2 | 44.09 | 1.12% |
| R1 | 43.79 | 0.445% |
| Price | 43.60 | |
| S1 | 42.84 | -1.75% |
| S2 | 42.54 | -2.42% |
| S3 | 42.07 | -3.52% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 44.30 | 1.61% |
| R2 | 43.95 | 0.80% |
| R1 | 43.65 | 0.115% |
| Price | 43.60 | |
| S1 | 43.30 | -0.688% |
| S2 | 42.23 | -3.14% |
| S3 | 41.85 | -4.01% |
EAST Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 20, 2025 | Jan 20, 2025 | Jan 24, 2025 | kr1.16 | 2.66% |
| 2 | Nov 11, 2024 | Nov 11, 2024 | Nov 15, 2024 | kr1.16 | 2.66% |
| 3 | Aug 26, 2024 | Aug 26, 2024 | Aug 30, 2024 | kr1.16 | 2.66% |
| 4 | Apr 26, 2024 | Apr 26, 2024 | May 03, 2024 | kr0.290 | 0.714% |
| 5 | Jan 22, 2024 | Jan 22, 2024 | Jan 26, 2024 | kr0.85 | 2.08% |
FAQ
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