OEM International AB (publ) Stock Forecast
A very red day for OEM International AB (publ) stock price after a -6.07% fall in the Thursday trading session
(Updated on May 02, 2024)
The OEM International AB (publ) stock price fell by -6.07% on the last day (Thursday, 2nd May 2024) from kr108.80 to kr102.20. During the last trading day the stock fluctuated 6.46% from a day low at kr102.20 to a day high of kr108.80. The price has risen in 5 of the last 10 days and is up by 2.2% over the past 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 -5 thousand shares and in total, 38 thousand shares were bought and sold for approximately kr3.87 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect OEM International AB (publ) stock with a 90% probability to be traded between kr97.16 and kr109.17 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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OEM-B.ST Signals & Forecast
The OEM International AB (publ) 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 kr103.06. On a fall, the stock will find some support from the long-term average at approximately kr101.43. 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). 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 30, 2024, and so far it has fallen -6.07%. 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 OEM International AB (publ) stock
OEM International AB (publ) finds support from accumulated volume at kr101.80 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 kr6.60 between high and low, or 6.46%. For the last week, the stock has had daily average volatility of 4.22%.
Our recommended stop-loss: kr96.07 (-6.00%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (OEM-B.ST) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect OEM International AB (publ) to open at kr104.40, and during the day (based on 14 day Average True Range), to move between kr98.70 and kr105.70, which gives a possible trading interval of +/-kr3.50 (+/-3.42%) up or down from last closing price. If OEM International AB (publ) takes out the full calculated possible swing range there will be an estimated 6.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr101.80 (0.39%) than the resistance at kr103.80 (1.57%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is OEM International AB (publ) stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for OEM International AB (publ) stock to perform well in the short-term period.
Current score: 1.683 Buy Candidate Unchanged
Predicted Opening Price for OEM International AB (publ) of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| kr104.40 ( 2.15%) | kr102.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OEM-B.ST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 111.00 | 8.61 % | |
| R2 | 108.48 | 6.14 % | ||
| R1 | 106.92 | 4.62 % | ||
| Current price: | 102.20 | |||
| Support | S1 | 101.88 | -0.314 % | |
| S2 | 100.32 | -1.84 % | ||
| S3 | 97.80 | -4.31 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 104.60 | 2.35 % | |
| R2 | 104.00 | 1.76 % | ||
| R1 | 103.80 | 1.57 % | ||
| Current price | 102.20 | |||
| Support | S1 | 101.80 | -0.391% | |
| S2 | 100.40 | -1.76% | ||
| S3 | 99.20 | -2.94% |
OEM-B Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 24, 2024 | Apr 24, 2024 | Apr 30, 2024 | kr1.75 | 1.61% |
| 2 | Apr 19, 2023 | Apr 19, 2023 | Apr 25, 2023 | kr1.50 | 1.55% |
| 3 | May 25, 2022 | May 25, 2022 | May 25, 2022 | kr3.25 | 4.64% |
| 4 | Apr 27, 2022 | Apr 27, 2022 | Apr 27, 2022 | kr1.38 | 1.80% |
| 5 | Apr 23, 2021 | Apr 23, 2021 | Apr 23, 2021 | kr1.25 | 1.93% |
FAQ
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