Ework Group AB (publ) Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Weaker technical forecast for Ework Group AB (publ) as stock downgraded to Hold/Accumulate.
(Updated on May 30, 2024)
The Ework Group AB (publ) stock price gained 1.63% on the last trading day (Thursday, 30th May 2024), rising from kr147.60 to kr150.00. During the last trading day the stock fluctuated 2.72% from a day low at kr147.20 to a day high of kr151.20. The price has risen in 6 of the last 10 days and is up by 7.3% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 697 more shares were traded than the day before. In total, 6 thousand shares were bought and sold for approximately kr971.85 thousand.
The stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at kr152.33 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 2.67% during the next 3 months and, with a 90% probability hold a price between kr139.23 and kr156.41 at the end of this 3-month period.
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EWRK.ST Signals & Forecast
The Ework Group AB (publ) stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at kr147.83 and kr140.43. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Ework Group AB (publ) has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 Tuesday, May 28, 2024, and so far it has fallen -1.45%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Ework Group AB (publ) stock
Ework Group AB (publ) finds support from accumulated volume at kr143.60 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 kr4.00 between high and low, or 2.72%. For the last week, the stock has had daily average volatility of 4.06%.
Our recommended stop-loss: kr143.79 (-4.14%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (EWRK.ST) For The Upcoming Trading Day Of Friday 31st
For the upcoming trading day on Friday, 31st we expect Ework Group AB (publ) to open at kr149.47, and during the day (based on 14 day Average True Range), to move between kr145.82 and kr154.18, which gives a possible trading interval of +/-kr4.18 (+/-2.79%) up or down from last closing price. If Ework Group AB (publ) takes out the full calculated possible swing range there will be an estimated 5.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr152.20 (1.47%) than the support at kr143.60 (4.27%), 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 Ework Group AB (publ) stock A Buy?
Ework 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. 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 Hold/Accumulate candidate.
Current score: 0.965 Hold/Accumulate Downgraded
Predicted Opening Price for Ework Group AB (publ) of Friday, May 31, 2024
| Fair opening price May 31, 2024 | Current price |
|---|---|
| kr149.47 ( 0.356%) | kr150.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EWRK.ST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 153.47 | 2.31 % | |
| R2 | 151.94 | 1.29 % | ||
| R1 | 150.99 | 0.663 % | ||
| Current price: | 150.00 | |||
| Support | S1 | 147.94 | -1.37 % | |
| S2 | 146.99 | -2.00 % | ||
| S3 | 145.47 | -3.02 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 152.20 | 1.47 % | ||
| Current price | 150.00 | |||
| Support | S1 | 143.60 | -4.27% | |
| S2 | 135.00 | -10.00% | ||
| S3 | 134.40 | -10.40% |
EWRK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 03, 2024 | May 03, 2024 | May 10, 2024 | kr7.00 | 5.04% |
| 2 | Apr 26, 2023 | Apr 26, 2023 | Apr 26, 2023 | kr6.50 | 4.21% |
| 3 | May 03, 2022 | May 03, 2022 | May 03, 2022 | kr5.00 | 4.09% |
| 4 | Apr 29, 2021 | Apr 29, 2021 | Apr 29, 2021 | kr4.50 | 4.69% |
| 5 | Jan 28, 2021 | Jan 28, 2021 | Jan 28, 2021 | kr2.00 | 2.17% |
FAQ
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