Evolution Gaming Group AB (publ) Stock Forecast
Evolution Gaming Group AB (publ) stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 10, 2024)
The Evolution Gaming Group AB (publ) stock price gained 0.405% on the last trading day (Friday, 10th May 2024), rising from kr1,235.00 to kr1,240.00. It has now gained 3 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 stock fluctuated 2.37% from a day low at kr1,225.00 to a day high of kr1,254.00. The price has risen in 6 of the last 10 days but is still down by -1.74% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 178 thousand more shares were traded than the day before. In total, 377 thousand shares were bought and sold for approximately kr466.86 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -7.32% during the next 3 months and, with a 90% probability hold a price between kr1,111.10 and kr1,222.58 at the end of this 3-month period. 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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EVO.ST Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, May 06, 2024, and so far it has risen 2.99%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Evolution Gaming Group AB (publ) stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at kr1,284.05. On a fall, the stock will find some support from the short-term average at kr1,222.21. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Evolution Gaming Group AB (publ) stock
Evolution Gaming Group AB (publ) finds support from accumulated volume at kr1,224.50 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 kr29.00 between high and low, or 2.37%. For the last week, the stock has had daily average volatility of 1.86%.
Our recommended stop-loss: kr1,175.73 (-5.18%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (EVO.ST) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Evolution Gaming Group AB (publ) to open at kr1,239.67, and during the day (based on 14 day Average True Range), to move between kr1,207.38 and kr1,272.62, which gives a possible trading interval of +/-kr32.62 (+/-2.63%) up or down from last closing price. If Evolution Gaming Group AB (publ) takes out the full calculated possible swing range there will be an estimated 5.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr1,245.80 (0.47%) than the support at kr1,224.50 (1.25%), 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 Evolution Gaming Group AB (publ) stock A Buy?
Evolution Gaming Group AB (publ) holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.575 Hold/Accumulate Upgraded
Predicted Opening Price for Evolution Gaming Group AB (publ) of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| kr1,239.67 ( 0.0269%) | kr1,240.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EVO.ST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,268.67 | 2.31 % | |
| R2 | 1,257.59 | 1.42 % | ||
| R1 | 1,250.74 | 0.87 % | ||
| Current price: | 1,240.00 | |||
| Support | S1 | 1,228.59 | -0.92 % | |
| S2 | 1,221.74 | -1.47 % | ||
| S3 | 1,210.67 | -2.37 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,287.00 | 3.79 % | |
| R2 | 1,262.00 | 1.77 % | ||
| R1 | 1,245.80 | 0.468 % | ||
| Current price | 1,240.00 | |||
| Support | S1 | 1,224.50 | -1.25% | |
| S2 | 1,207.00 | -2.66% | ||
| S3 | 1,206.50 | -2.70% |
EVO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 29, 2024 | Apr 29, 2024 | Apr 29, 2024 | kr0 | 0% |
| 2 | Apr 05, 2023 | Apr 05, 2023 | Apr 05, 2023 | kr2.00 | 0.146% |
| 3 | Apr 11, 2022 | Apr 11, 2022 | Apr 11, 2022 | kr1.42 | 0.144% |
| 4 | Apr 19, 2021 | Apr 19, 2021 | Apr 19, 2021 | kr0.680 | 0.0477% |
| 5 | Jun 18, 2020 | Jun 18, 2020 | Jun 18, 2020 | kr0.420 | 0.0714% |
FAQ
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