Mycronic AB (publ) Stock Forecast
Green day on Thursday for Mycronic AB (publ) stock after gaining 0.693%
(Updated on Mar 28, 2024)
The Mycronic AB (publ) stock price gained 0.693% on the last trading day (Thursday, 28th Mar 2024), rising from kr375.40 to kr378.00. During the last trading day the stock fluctuated 1.98% from a day low at kr374.20 to a day high of kr381.60. The price has fallen in 6 of the last 10 days but is still up by 8.06% over the past 2 weeks. Volume fell on the last day by -139 thousand shares and in total, 84 thousand shares were bought and sold for approximately kr31.60 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 strong 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 35.14% during the next 3 months and, with a 90% probability hold a price between kr490.78 and kr521.02 at the end of this 3-month period.
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MYCR.ST Signals & Forecast
The Mycronic 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 kr357.54 and kr343.31. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, February 21, 2024, and so far it has risen 17.46%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Mycronic AB (publ) stock
On the downside, the stock finds support just below today's level from accumulated volume at kr349.20 and kr333.60. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Mycronic AB (publ) finds support just below today's level at kr349.20. If this is broken, then the next support from accumulated volume will be at kr333.60 and kr328.60.
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 kr7.40 between high and low, or 1.98%. For the last week the stock has had daily average volatility of 2.87%.
Our recommended stop-loss: kr366.89 (-2.94%) (This stock has low daily movements and this gives low risk. The RSI14 is 78 and this increases the risk substantially. There is a buy signal from a pivot bottom found 26 days ago.)
Trading Expectations (MYCR.ST) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Mycronic AB (publ) to open at kr377.93, and during the day (based on 14 day Average True Range), to move between kr367.88 and kr388.12, which gives a possible trading interval of +/-kr10.12 (+/-2.68%) up or down from last closing price. If Mycronic AB (publ) takes out the full calculated possible swing range there will be an estimated 5.36% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ kr349.20, some kr28.80 (7.62%) from the current price of kr378.00, our system finds the risk reward attractive.
Is Mycronic AB (publ) stock A Buy?
Mycronic AB (publ) holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 6.075 Strong Buy Candidate Unchanged
Predicted Opening Price for Mycronic AB (publ) of Tuesday, April 2, 2024
Fair opening price April 2, 2024 | Current price |
---|---|
kr377.93 ( 0.0176%) | kr378.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MYCR.ST
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 385.33 | 1.94 % | |
R2 | 382.51 | 1.19 % | ||
R1 | 380.76 | 0.730 % | ||
Current price: | 378.00 | |||
Support | S1 | 375.11 | -0.765 % | |
S2 | 373.36 | -1.23 % | ||
S3 | 370.53 | -1.98 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 378.00 | |||
Support | S1 | 349.20 | -7.62% | |
S2 | 333.60 | -11.75% | ||
S3 | 328.60 | -13.07% |
MYCR Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 10, 2024 | May 10, 2024 | May 10, 2024 | kr0 | 0% |
2 | May 10, 2023 | May 10, 2023 | May 10, 2023 | kr3.50 | 1.63% |
3 | May 06, 2022 | May 06, 2022 | May 06, 2022 | kr3.00 | 1.85% |
4 | May 06, 2021 | May 06, 2021 | May 06, 2021 | kr3.00 | 1.20% |
5 | Jun 26, 2020 | Jun 26, 2020 | Jun 26, 2020 | kr2.00 | 1.12% |
FAQ
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