Nordea Bank Abp Stock Forecast

Nordea Bank Abp stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Apr 26, 2024)

NDA-FI.HE Signals & Forecast

The Nordea Bank Abp stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately 10.96€. On a fall, the stock will find some support from the long-term average at approximately 10.90€. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -2.98%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Nordea Bank Abp stock

Nordea Bank Abp finds support from accumulated volume at 10.89€ 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 0.0950€ between high and low, or 0.87%. For the last week the stock has had daily average volatility of 1.90%.

Our recommended stop-loss: 10.44€ (-4.45%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 3 days ago.)

Trading Expectations (NDA-FI.HE) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Nordea Bank Abp to open at 10.92€, and during the day (based on 14 day Average True Range), to move between 10.70€ and 11.15€, which gives a possible trading interval of +/-0.224€ (+/-2.05%) up or down from last closing price. If Nordea Bank Abp takes out the full calculated possible swing range there will be an estimated 4.11% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at 10.89€ (0.32%) than the resistance at 11.08€ (1.42%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Nordea Bank Abp stock A Buy?

Nordea Bank Abp holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.290 Hold/Accumulate Upgraded

Predicted Opening Price for Nordea Bank Abp of Monday, April 29, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.