Fortum Oyj Stock Forecast
Fortum Oyj stock price up 0.162% on Tuesday
(Updated on Apr 30, 2024)
The Fortum Oyj stock price gained 0.162% on the last trading day (Tuesday, 30th Apr 2024), rising from 12.36€ to 12.38€. During the last trading day the stock fluctuated 7.11% from a day low at 12.23€ to a day high of 13.10€. The price has fallen in 5 of the last 10 days but is still up by 1.48% 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, 2 million more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately 44.39€ million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 5.29% during the next 3 months and, with a 90% probability hold a price between 12.07€ and 14.07€ at the end of this 3-month period.
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FORTUM.HE Signals & Forecast
The Fortum Oyj 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 12.21€ and 11.90€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, February 14, 2024, and so far it has risen 13.58%. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Fortum Oyj stock
Fortum Oyj finds support from accumulated volume at 11.78€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved 0.87€ (7.11%) between high and low. For the last week, the stock has had daily average volatility of 3.08%.
Our recommended stop-loss: 11.91€ (-3.76%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 52 days ago.)
Trading Expectations (FORTUM.HE) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Fortum Oyj to open at 12.57€, and during the day (based on 14 day Average True Range), to move between 12.05€ and 12.71€, which gives a possible trading interval of +/-0.334€ (+/-2.70%) up or down from last closing price. If Fortum Oyj takes out the full calculated possible swing range there will be an estimated 5.40% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 12.41€ (0.20%) than the support at 11.78€ (4.85%), 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 Fortum Oyj stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Fortum Oyj stock to perform well in the short-term.
Current score: 3.917 Buy Candidate Unchanged
Predicted Opening Price for Fortum Oyj of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| 12.57€ ( 1.53%) | 12.38€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FORTUM.HE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.44 | 8.56 % | |
| R2 | 13.11 | 5.88 % | ||
| R1 | 12.90 | 4.22 % | ||
| Current price: | 12.38 | |||
| Support | S1 | 12.24 | -1.15 % | |
| S2 | 12.03 | -2.81 % | ||
| S3 | 11.70 | -5.49 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 12.69 | 2.50 % | ||
| R1 | 12.41 | 0.202 % | ||
| Current price | 12.38 | |||
| Support | S1 | 11.78 | -4.85% | |
| S2 | 11.65 | -5.94% | ||
| S3 | 11.57 | -6.54% |
FORTUM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 14, 2023 | Apr 14, 2023 | Apr 14, 2023 | 0.460€ | 3.29% |
| 2 | Mar 29, 2022 | Mar 29, 2022 | Mar 29, 2022 | 1.14€ | 6.75% |
| 3 | Apr 29, 2021 | Apr 29, 2021 | Apr 29, 2021 | 1.12€ | 5.10% |
| 4 | Apr 24, 2020 | Apr 24, 2020 | Apr 24, 2020 | 1.10€ | 7.40% |
| 5 | Mar 18, 2020 | Mar 18, 2020 | Mar 18, 2020 | 1.10€ | 8.84% |
FAQ
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