Essity AB (publ) Stock Forecast
Weaker technical forecast for Essity AB (publ) as stock downgraded to Sell Candidate.
(Updated on Jun 28, 2024)
No changes to the price of Essity AB (publ) stock on the last trading day (Friday, 28th Jun 2024). During the last trading day the stock fluctuated 0.741% from a day low at kr270.00 to a day high of kr272.00. The price has fallen in 6 of the last 10 days and is down by -3.22% for this period.
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 kr269.10 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 8.92% during the next 3 months and, with a 90% probability hold a price between kr293.10 and kr313.80 at the end of this 3-month period.
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ESSITY-A.ST Signals & Forecast
The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Essity 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 kr274.79 and kr276.51. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 07, 2024, and so far it has fallen -4.25%. 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 Essity AB (publ) stock
Essity AB (publ) finds support from accumulated volume at kr262.50 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 kr2.00 between high and low, or 0.741%. For the last week the stock has had daily average volatility of 1.28%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ESSITY-A.ST) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Essity AB (publ) to open at kr270.83, and during the day (based on 14 day Average True Range), to move between kr266.36 and kr274.64, which gives a possible trading interval of +/-kr4.14 (+/-1.53%) up or down from last closing price. If Essity AB (publ) takes out the full calculated possible swing range there will be an estimated 3.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr274.50 (1.48%) than the support at kr262.50 (2.96%), 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 Essity AB (publ) stock A Buy?
The Essity AB (publ) stock holds several negative signals and despite the positive trend, we believe Essity 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 Hold/Accumulate to a Sell candidate.
Current score: -3.416 Sell Candidate Downgraded
Predicted Opening Price for Essity AB (publ) of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| kr270.83 ( 0.123%) | kr270.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ESSITY-A.ST
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 272.83 | 0.86% |
| R2 | 272.07 | 0.580% |
| R1 | 271.60 | 0.406% |
| Price | 270.50 | |
| S1 | 270.07 | -0.159% |
| S2 | 269.60 | -0.334% |
| S3 | 268.83 | -0.616% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 279.00 | 3.14% |
| R2 | 276.50 | 2.22% |
| R1 | 274.50 | 1.48% |
| Price | 270.50 | |
| S1 | 262.50 | -2.96% |
| S2 | 261.00 | -3.51% |
| S3 | 257.50 | -4.81% |
ESSITY-A Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 22, 2024 | Mar 22, 2024 | Mar 28, 2024 | kr7.75 | 3.04% |
| 2 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | kr7.25 | 2.46% |
| 3 | Mar 25, 2022 | Mar 25, 2022 | Mar 25, 2022 | kr7.00 | 3.23% |
| 4 | Mar 26, 2021 | Mar 26, 2021 | Mar 26, 2021 | kr6.75 | 2.50% |
| 5 | Oct 29, 2020 | Oct 29, 2020 | Oct 29, 2020 | kr6.25 | 2.30% |
FAQ
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