Scandi Standard AB (publ) Stock Forecast

Scandi Standard AB (publ) stock price down 0.268% on Friday
(Updated on May 03, 2024)

SCST.ST Signals & Forecast

The Scandi Standard 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 kr75.49. On a fall, the stock will find some support from the long-term average at approximately kr72.63. 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. 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 -2.87%. 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 Scandi Standard AB (publ) stock

Scandi Standard AB (publ) finds support from accumulated volume at kr72.90 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved kr6.20 between high and low, or 8.82%. For the last week the stock has had daily average volatility of 3.47%.

Our recommended stop-loss: kr71.50 (-4.03%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (SCST.ST) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Scandi Standard AB (publ) to open at kr73.77, and during the day (based on 14 day Average True Range), to move between kr72.62 and kr76.38, which gives a possible trading interval of +/-kr1.88 (+/-2.52%) up or down from last closing price. If Scandi Standard AB (publ) takes out the full calculated possible swing range there will be an estimated 5.04% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr75.50 (1.34%) than the support at kr72.90 (2.15%), 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 Scandi Standard AB (publ) stock A Buy?

Scandi Standard AB (publ) holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.667 Hold/Accumulate Unchanged

Predicted Opening Price for Scandi Standard AB (publ) of Monday, May 6, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.