SpareBank 1 SMN Stock Forecast
SpareBank 1 SMN stock upgraded to Buy Candidate.
(Updated on Apr 30, 2024)
The SpareBank 1 SMN stock price gained 1.61% on the last trading day (Tuesday, 30th Apr 2024), rising from kr144.00 to kr146.32. It has now gained 4 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 2.49% from a day low at kr143.00 to a day high of kr146.56. The price has risen in 6 of the last 10 days and is up by 3.77% 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, 115 thousand more shares were traded than the day before. In total, 183 thousand shares were bought and sold for approximately kr26.84 million.
The stock lies the upper part of a falling 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 kr146.76 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -2.30% during the next 3 months and, with a 90% probability hold a price between kr131.94 and kr143.39 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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MING.OL Signals & Forecast
Mostly positive signals in the chart today. The SpareBank 1 SMN 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 kr142.87 and kr142.64. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, March 22, 2024, and so far it has risen 7.27%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for SpareBank 1 SMN stock
SpareBank 1 SMN finds support from accumulated volume at kr142.00 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 kr3.56 between high and low, or 2.49%. For the last week the stock has had daily average volatility of 1.76%.
Our recommended stop-loss: kr138.54 (-5.32%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 24 days ago.)
Trading Expectations (MING.OL) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect SpareBank 1 SMN to open at kr145.29, and during the day (based on 14 day Average True Range), to move between kr143.85 and kr148.79, which gives a possible trading interval of +/-kr2.47 (+/-1.69%) up or down from last closing price. If SpareBank 1 SMN takes out the full calculated possible swing range there will be an estimated 3.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr146.40 (0.05%) than the support at kr142.00 (2.95%), 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.
Earnings coming up
SpareBank 1 SMN will release earnings BMO on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is $4.58. We will update the financials statements for SpareBank 1 SMN, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.19% in the first trading day after earnings release.
Is SpareBank 1 SMN stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.740 Buy Candidate Upgraded
Predicted Opening Price for SpareBank 1 SMN of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| kr145.29 ( 0.702%) | kr146.32 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MING.OL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 148.85 | 1.73 % | |
| R2 | 147.49 | 0.80 % | ||
| R1 | 146.65 | 0.228 % | ||
| Current price: | 146.32 | |||
| Support | S1 | 143.93 | -1.63 % | |
| S2 | 143.09 | -2.21 % | ||
| S3 | 141.73 | -3.13 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 148.40 | 1.42 % | |
| R2 | 147.00 | 0.465 % | ||
| R1 | 146.40 | 0.0547 % | ||
| Current price | 146.32 | |||
| Support | S1 | 142.00 | -2.95% | |
| S2 | 141.20 | -3.50% | ||
| S3 | 139.50 | -4.66% |
MING Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 22, 2024 | Mar 22, 2024 | Apr 03, 2024 | kr12.00 | 8.60% |
| 2 | Mar 29, 2023 | Mar 29, 2023 | Mar 29, 2023 | kr6.50 | 5.48% |
| 3 | Mar 25, 2022 | Mar 25, 2022 | Mar 25, 2022 | kr7.50 | 5.25% |
| 4 | Nov 02, 2021 | Nov 02, 2021 | Nov 02, 2021 | kr3.10 | 2.25% |
| 5 | Mar 26, 2021 | Mar 26, 2021 | Mar 26, 2021 | kr1.30 | 1.20% |
FAQ
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