Nordea Bank Abp Stock Forecast
Nordea Bank Abp stock downgraded to Sell Candidate
(Updated on Jun 25, 2024)
The Nordea Bank Abp stock price fell by -1.67% on the last day (Tuesday, 25th Jun 2024) from kr85.08 to kr83.66. During the last trading day the stock fluctuated 1.60% from a day low at kr83.66 to a day high of kr85.00. The price has been going up and down for this period, and there has been a -1.11% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -512 thousand shares and in total, 278 thousand shares were bought and sold for approximately kr23.23 million.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at kr83.02 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 7.70% during the next 3 months and, with a 90% probability hold a price between kr89.41 and kr95.63 at the end of this 3-month period.
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NDA-DK.CO Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Nordea Bank Abp stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at kr84.46 and kr84.17. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 12, 2024, and so far it has fallen -4.72%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Nordea Bank Abp stock
Nordea Bank Abp finds support from accumulated volume at kr81.66 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 kr1.34 between high and low, or 1.60%. For the last week the stock has had daily average volatility of 1.33%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NDA-DK.CO) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Nordea Bank Abp to open at kr84.11, and during the day (based on 14 day Average True Range), to move between kr82.21 and kr85.11, which gives a possible trading interval of +/-kr1.45 (+/-1.73%) up or down from last closing price. If Nordea Bank Abp takes out the full calculated possible swing range there will be an estimated 3.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr84.12 (0.55%) than the support at kr81.66 (2.39%), 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 Nordea Bank Abp stock A Buy?
The Nordea Bank Abp stock holds several negative signals and despite the positive trend, we believe Nordea Bank Abp will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. 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 Sell candidate.
Current score: -2.308 Sell Candidate Downgraded
Predicted Opening Price for Nordea Bank Abp of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| kr84.11 ( 0.534%) | kr83.66 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NDA-DK.CO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 85.45 | 2.14% |
| R2 | 84.93 | 1.52% |
| R1 | 84.62 | 1.15% |
| Price | 83.66 | |
| S1 | 83.59 | -0.0780% |
| S2 | 83.28 | -0.456% |
| S3 | 82.77 | -1.07% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 87.80 | 4.95% |
| R2 | 85.08 | 1.70% |
| R1 | 84.12 | 0.550% |
| Price | 83.66 | |
| S1 | 81.66 | -2.39% |
| S2 | 79.90 | -4.49% |
| S3 | 77.98 | -6.79% |
NDA-DK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 22, 2024 | Mar 22, 2024 | Apr 03, 2024 | kr6.86 | 8.55% |
| 2 | Mar 24, 2023 | Mar 24, 2023 | Mar 24, 2023 | kr0.80 | 1.14% |
| 3 | Mar 25, 2022 | Mar 25, 2022 | Mar 25, 2022 | kr0.690 | 0.98% |
| 4 | Oct 04, 2021 | Oct 04, 2021 | Oct 04, 2021 | kr0.720 | 0.93% |
| 5 | Feb 19, 2021 | Feb 19, 2021 | Feb 19, 2021 | kr0.0700 | 0.126% |
FAQ
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