Epiroc AB (publ) ETF Forecast
Epiroc AB (publ) ETF downgraded to Hold/Accumulate
(Updated on May 08, 2024)
The Epiroc AB (publ) ETF price gained 1.18% on the last trading day (Wednesday, 8th May 2024), rising from kr212.00 to kr214.50. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 1.95% from a day low at kr210.60 to a day high of kr214.70. The price has risen in 6 of the last 10 days and is up by 4.33% over the past 2 weeks. Volume fell on the last day by -625 thousand shares and in total, 572 thousand shares were bought and sold for approximately kr122.70 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 12.43% during the next 3 months and, with a 90% probability hold a price between kr231.93 and kr256.33 at the end of this 3-month period.
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EPI-A.ST Signals & Forecast
The Epiroc AB (publ) ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at kr208.06 and kr208.59. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -2.50%. 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).
Support, Risk & Stop-loss for Epiroc AB (publ) ETF
Epiroc AB (publ) finds support from accumulated volume at kr206.80 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved kr4.10 (1.95%) between high and low. For the last week, the ETF has had daily average volatility of 1.99%.
Our recommended stop-loss: kr207.01 (-3.49%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (EPI-A.ST) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Epiroc AB (publ) to open at kr213.27, and during the day (based on 14 day Average True Range), to move between kr209.62 and kr219.38, which gives a possible trading interval of +/-kr4.88 (+/-2.27%) up or down from last closing price. If Epiroc AB (publ) takes out the full calculated possible swing range there will be an estimated 4.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr215.60 (0.51%) than the support at kr206.80 (3.59%), 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 Epiroc AB (publ) ETF A Buy?
Epiroc AB (publ) holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.748 Hold/Accumulate Downgraded
Predicted Opening Price for Epiroc AB (publ) of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| kr213.27 ( 0.575%) | kr214.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EPI-A.ST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 217.37 | 1.34 % | |
| R2 | 215.80 | 0.606 % | ||
| R1 | 214.83 | 0.155 % | ||
| Current price: | 214.50 | |||
| Support | S1 | 211.70 | -1.31 % | |
| S2 | 210.73 | -1.76 % | ||
| S3 | 209.17 | -2.49 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 220.00 | 2.56 % | |
| R2 | 217.80 | 1.54 % | ||
| R1 | 215.60 | 0.513 % | ||
| Current price | 214.50 | |||
| Support | S1 | 206.80 | -3.59% | |
| S2 | 205.60 | -4.15% | ||
| S3 | 187.75 | -12.47% |
EPI-A Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 15, 2024 | May 15, 2024 | May 15, 2024 | kr0 | 0% |
| 2 | May 24, 2023 | May 24, 2023 | May 24, 2023 | kr1.70 | 0.87% |
| 3 | Oct 21, 2022 | Oct 21, 2022 | Oct 21, 2022 | kr1.50 | 0.91% |
| 4 | Apr 26, 2022 | Apr 26, 2022 | Apr 26, 2022 | kr1.50 | 0.758% |
| 5 | Oct 27, 2021 | Oct 27, 2021 | Oct 27, 2021 | kr1.25 | 0.584% |
FAQ
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