Saab AB (publ) Stock Forecast
Saab AB (publ) stock downgraded to Sell Candidate
(Updated on May 03, 2024)
The Saab AB (publ) stock price gained 0.96% on the last trading day (Friday, 3rd May 2024), rising from kr870.80 to kr879.20. During the last trading day the stock fluctuated 2.27% from a day low at kr863.00 to a day high of kr882.60. The price has fallen in 6 of the last 10 days and is down by -2.66% for this period. Volume fell on the last day by -477 thousand shares and in total, 267 thousand shares were bought and sold for approximately kr234.83 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 lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at kr874.37 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 26.30% during the next 3 months and, with a 90% probability hold a price between kr1,104.35 and kr1,320.96 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
SAAB-B.ST Signals & Forecast
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. The Saab AB (publ) stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at kr902.49 and kr916.53. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -10.43%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Saab AB (publ) stock
Saab AB (publ) finds support from accumulated volume at kr870.00 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 kr19.60 between high and low, or 2.27%. For the last week, the stock has had daily average volatility of 4.60%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SAAB-B.ST) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Saab AB (publ) to open at kr874.93, and during the day (based on 14 day Average True Range), to move between kr845.81 and kr912.59, which gives a possible trading interval of +/-kr33.39 (+/-3.80%) up or down from last closing price. If Saab AB (publ) takes out the full calculated possible swing range there will be an estimated 7.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr885.80 (0.75%) than the support at kr870.00 (1.05%), 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 Saab AB (publ) stock A Buy?
The Saab AB (publ) stock holds several negative signals and despite the positive trend, we believe Saab AB (publ) 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 Hold/Accumulate to a Sell candidate.
Current score: -4.298 Sell Candidate Downgraded
Predicted Opening Price for Saab AB (publ) of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| kr874.93 ( 0.485%) | kr879.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SAAB-B.ST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 894.53 | 1.74 % | |
| R2 | 887.05 | 0.89 % | ||
| R1 | 882.42 | 0.366 % | ||
| Current price: | 879.20 | |||
| Support | S1 | 867.45 | -1.34 % | |
| S2 | 862.82 | -1.86 % | ||
| S3 | 855.33 | -2.71 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 911.20 | 3.64 % | |
| R2 | 891.80 | 1.43 % | ||
| R1 | 885.80 | 0.751 % | ||
| Current price | 879.20 | |||
| Support | S1 | 870.00 | -1.05% | |
| S2 | 820.60 | -6.67% | ||
| S3 | 724.20 | -17.63% |
SAAB-B Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 07, 2024 | Oct 07, 2024 | Oct 11, 2024 | kr3.20 | 0.363% |
| 2 | Apr 12, 2024 | Apr 12, 2024 | Apr 12, 2024 | kr0 | 0% |
| 3 | Apr 06, 2023 | Apr 06, 2023 | Apr 06, 2023 | kr5.30 | 0.84% |
| 4 | Apr 07, 2022 | Apr 07, 2022 | Apr 07, 2022 | kr4.90 | 1.45% |
| 5 | Apr 14, 2021 | Apr 14, 2021 | Apr 14, 2021 | kr4.70 | 1.96% |
FAQ
Click here for our free guide on how to buy Saab AB (publ) Stock.
