AB Sagax (publ) Stock Forecast
Green day on Tuesday for AB Sagax (publ) stock after gaining 0.587%
(Updated on Jul 02, 2024)
The AB Sagax (publ) stock price gained 0.587% on the last trading day (Tuesday, 2nd Jul 2024), rising from kr272.60 to kr274.20. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.26% from a day low at kr270.80 to a day high of kr274.20. The price has risen in 7 of the last 10 days and is up by 4.26% over the past 2 weeks. Volume fell on the last day by -34 thousand shares and in total, 73 thousand shares were bought and sold for approximately kr20.00 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 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 AB Sagax (publ) stock with a 90% probability to be traded between kr261.02 and kr301.55 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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SAGA-B.ST Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, June 19, 2024, and so far it has risen 5.46%. Further rise is indicated until a new top pivot has been found. 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. The AB Sagax (publ) stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at kr277.82. On a fall, the stock will find some support from the short-term average at kr268.37. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for AB Sagax (publ) stock
AB Sagax (publ) finds support from accumulated volume at kr271.20 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved kr3.40 (1.26%) between high and low. For the last week, the stock has had daily average volatility of 1.79%.
Our recommended stop-loss: kr262.91 (-4.12%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 31 days ago.)
Trading Expectations (SAGA-B.ST) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect AB Sagax (publ) to open at kr273.07, and during the day (based on 14 day Average True Range), to move between kr267.94 and kr280.46, which gives a possible trading interval of +/-kr6.26 (+/-2.28%) up or down from last closing price. If AB Sagax (publ) takes out the full calculated possible swing range there will be an estimated 4.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr275.40 (0.44%) than the support at kr271.20 (1.09%), 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 AB Sagax (publ) stock A Buy?
AB Sagax (publ) 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.
Current score: 0.263 Hold/Accumulate Unchanged
Predicted Opening Price for AB Sagax (publ) of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| kr273.07 ( 0.413%) | kr274.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SAGA-B.ST
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 276.47 | 0.83% |
| R2 | 275.17 | 0.353% |
| R1 | 274.37 | 0.0603% |
| Price | 274.20 | |
| S1 | 271.77 | -0.89% |
| S2 | 270.97 | -1.18% |
| S3 | 269.67 | -1.65% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 281.20 | 2.55% |
| R2 | 276.60 | 0.88% |
| R1 | 275.40 | 0.438% |
| Price | 274.20 | |
| S1 | 271.20 | -1.09% |
| S2 | 267.20 | -2.55% |
| S3 | 265.80 | -3.06% |
SAGA-B Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 10, 2024 | May 10, 2024 | May 16, 2024 | kr3.10 | 1.03% |
| 2 | May 10, 2023 | May 10, 2023 | May 10, 2023 | kr2.70 | 1.23% |
| 3 | May 12, 2022 | May 12, 2022 | May 12, 2022 | kr2.15 | 0.94% |
| 4 | May 06, 2021 | May 06, 2021 | May 06, 2021 | kr1.65 | 0.769% |
| 5 | Nov 11, 2020 | Nov 11, 2020 | Nov 11, 2020 | kr0.650 | 0.408% |
FAQ
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