AB Sagax (publ) Stock Forecast
Weaker technical forecast for AB Sagax (publ) as stock downgraded to Sell Candidate.
(Updated on May 31, 2024)
The AB Sagax (publ) stock price fell by -0.789% on the last day (Friday, 31st May 2024) from kr278.80 to kr276.60. During the last trading day the stock fluctuated 2.11% from a day low at kr274.60 to a day high of kr280.40. The price has fallen in 8 of the last 10 days and is down by -6.24% for this period. Volume has increased on the last day by 2 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 million shares were bought and sold for approximately kr618.49 million.
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 kr274.73 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 12.65% during the next 3 months and, with a 90% probability hold a price between kr309.50 and kr345.07 at the end of this 3-month period.
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SAGA-B.ST Signals & Forecast
There are few to no technical positive signals at the moment. The AB Sagax (publ) 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 kr281.71 and kr278.67. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen -7.80%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for AB Sagax (publ) stock
AB Sagax (publ) finds support from accumulated volume at kr274.40 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 kr5.80 between high and low, or 2.11%. For the last week, the stock has had daily average volatility of 1.95%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SAGA-B.ST) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect AB Sagax (publ) to open at kr277.20, and during the day (based on 14 day Average True Range), to move between kr270.10 and kr283.10, which gives a possible trading interval of +/-kr6.50 (+/-2.35%) up or down from last closing price. If AB Sagax (publ) takes out the full calculated possible swing range there will be an estimated 4.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr276.80 (0.07%) than the support at kr274.40 (0.80%), 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?
The AB Sagax (publ) stock holds several negative signals and despite the positive trend, we believe AB Sagax (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 Buy to a Sell candidate.
Current score: -4.626 Sell Candidate Downgraded
Predicted Opening Price for AB Sagax (publ) of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| kr277.20 ( 0.217%) | kr276.60 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 283.00 | 2.31 % | |
| R2 | 280.78 | 1.51 % | ||
| R1 | 279.42 | 1.02 % | ||
| Current price: | 276.60 | |||
| Support | S1 | 274.98 | -0.584 % | |
| S2 | 273.62 | -1.08 % | ||
| S3 | 271.40 | -1.88 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 286.40 | 3.54 % | |
| R2 | 277.00 | 0.145 % | ||
| R1 | 276.80 | 0.0723 % | ||
| Current price | 276.60 | |||
| Support | S1 | 274.40 | -0.795% | |
| S2 | 261.40 | -5.50% | ||
| S3 | 240.90 | -12.91% |
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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