Garo Aktiebolag (publ) Stock Forecast
Garo Aktiebolag (publ) stock price ended at kr30.65 on Wednesday, after gaining 4.79%.
(Updated on May 15, 2024)
The Garo Aktiebolag (publ) stock price gained 4.79% on the last trading day (Wednesday, 15th May 2024), rising from kr29.25 to kr30.65. During the last trading day the stock fluctuated 9.12% from a day low at kr28.50 to a day high of kr31.10. The price has been going up and down for this period, and there has been a -2.23% loss for the last 2 weeks. Volume fell on the last day by -31 thousand shares and in total, 228 thousand shares were bought and sold for approximately kr6.99 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 stock lies in the middle of a very 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 9.11% during the next 3 months and, with a 90% probability hold a price between kr31.41 and kr40.10 at the end of this 3-month period.
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GARO.ST Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 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 Garo Aktiebolag (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 kr30.82 and kr32.23. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 04, 2024, and so far it has fallen -13.30%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Garo Aktiebolag (publ) stock
Garo Aktiebolag (publ) finds support from accumulated volume at kr29.50 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 kr2.60 between high and low, or 9.12%. For the last week, the stock has had daily average volatility of 6.22%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GARO.ST) For The Upcoming Trading Day Of Thursday 16th
For the upcoming trading day on Thursday, 16th we expect Garo Aktiebolag (publ) to open at kr30.08, and during the day (based on 14 day Average True Range), to move between kr29.24 and kr32.06, which gives a possible trading interval of +/-kr1.41 (+/-4.61%) up or down from last closing price. If Garo Aktiebolag (publ) takes out the full calculated possible swing range there will be an estimated 9.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr31.10 (1.47%) than the support at kr29.50 (3.75%), 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 Garo Aktiebolag (publ) stock A Buy?
The Garo Aktiebolag (publ) stock holds several negative signals and despite the positive trend, we believe Garo Aktiebolag (publ) will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.930 Sell Candidate Unchanged
Predicted Opening Price for Garo Aktiebolag (publ) of Thursday, May 16, 2024
| Fair opening price May 16, 2024 | Current price |
|---|---|
| kr30.08 ( 1.85%) | kr30.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GARO.ST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 32.68 | 6.63 % | |
| R2 | 31.69 | 3.39 % | ||
| R1 | 31.08 | 1.39 % | ||
| Current price: | 30.65 | |||
| Support | S1 | 29.09 | -5.09 % | |
| S2 | 28.48 | -7.09 % | ||
| S3 | 27.48 | -10.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 34.30 | 11.91 % | |
| R2 | 33.04 | 7.80 % | ||
| R1 | 31.10 | 1.47 % | ||
| Current price | 30.65 | |||
| Support | S1 | 29.50 | -3.75% | |
| S2 | 28.12 | -8.25% | ||
| S3 | 28.04 | -8.52% |
GARO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 12, 2023 | May 12, 2023 | May 12, 2023 | kr0.400 | 0.541% |
| 2 | May 12, 2022 | May 12, 2022 | May 12, 2022 | kr1.40 | 1.11% |
| 3 | May 06, 2021 | May 06, 2021 | May 06, 2021 | kr0.95 | 0.745% |
| 4 | May 16, 2019 | May 16, 2019 | May 16, 2019 | kr0.80 | 1.61% |
| 5 | May 03, 2018 | May 03, 2018 | May 03, 2018 | kr0.80 | 1.96% |
FAQ
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