Scatec ASA Stock Forecast
Scatec ASA stock price ended at kr76.00 on Thursday, after losing 0.0657%.
(Updated on May 16, 2024)
The Scatec ASA stock price fell by -0.0657% on the last day (Thursday, 16th May 2024) from kr76.05 to kr76.00. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 1.72% from a day low at kr75.70 to a day high of kr77.00. The price has fallen in 6 of the last 10 days and is down by -6.81% for this period. Volume has increased on the last day by 31 thousand 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, 267 thousand shares were bought and sold for approximately kr20.32 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 14.87% during the next 3 months and, with a 90% probability hold a price between kr80.25 and kr95.82 at the end of this 3-month period.
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SCATC.OL Signals & Forecast
The Scatec ASA 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 kr77.82. On a fall, the stock will find some support from the long-term average at approximately kr73.99. 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. A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has risen 0.86%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 Scatec ASA stock
Scatec ASA finds support from accumulated volume at kr75.35 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 kr1.30 between high and low, or 1.72%. For the last week, the stock has had daily average volatility of 2.12%.
Our recommended stop-loss: kr72.53 (-4.57%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (SCATC.OL) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Scatec ASA to open at kr76.23, and during the day (based on 14 day Average True Range), to move between kr73.12 and kr78.88, which gives a possible trading interval of +/-kr2.88 (+/-3.79%) up or down from last closing price. If Scatec ASA takes out the full calculated possible swing range there will be an estimated 7.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr76.05 (0.07%) than the support at kr75.35 (0.86%), 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 Scatec ASA stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Scatec ASA stock to perform well in the short-term.
Current score: 2.399 Buy Candidate Unchanged
Predicted Opening Price for Scatec ASA of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| kr76.23 ( 0.307%) | kr76.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SCATC.OL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 77.53 | 2.02 % | |
| R2 | 77.04 | 1.36 % | ||
| R1 | 76.73 | 0.96 % | ||
| Current price: | 76.00 | |||
| Support | S1 | 75.74 | -0.346 % | |
| S2 | 75.43 | -0.750 % | ||
| S3 | 74.93 | -1.40 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 81.55 | 7.30 % | |
| R2 | 76.20 | 0.263 % | ||
| R1 | 76.05 | 0.0658 % | ||
| Current price | 76.00 | |||
| Support | S1 | 75.35 | -0.86% | |
| S2 | 69.20 | -8.95% | ||
| S3 | 67.75 | -10.86% |
SCATC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 19, 2023 | Apr 19, 2023 | Apr 19, 2023 | kr1.94 | 2.73% |
| 2 | May 02, 2022 | May 02, 2022 | May 12, 2022 | kr2.54 | 2.91% |
| 3 | Apr 29, 2022 | Apr 29, 2022 | Apr 29, 2022 | kr2.54 | 2.20% |
| 4 | Apr 21, 2021 | Apr 21, 2021 | Apr 21, 2021 | kr1.09 | 0.454% |
| 5 | Jul 22, 2020 | Jul 22, 2020 | Jul 22, 2020 | kr0.95 | 0.591% |
FAQ
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