Scandi Standard AB (publ) Stock Forecast
Green day on Friday for Scandi Standard AB (publ)
(Updated on May 17, 2024)
The Scandi Standard AB (publ) stock price gained 1.61% on the last trading day (Friday, 17th May 2024), rising from kr74.70 to kr75.90. During the last trading day the stock fluctuated 2.53% from a day low at kr75.00 to a day high of kr76.90. The price has fallen in 6 of the last 10 days but is still up by 1.61% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 59 thousand more shares were traded than the day before. In total, 114 thousand shares were bought and sold for approximately kr8.62 million.
The stock lies in the middle of a 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 15.11% during the next 3 months and, with a 90% probability hold a price between kr83.17 and kr90.47 at the end of this 3-month period.
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SCST.ST Signals & Forecast
The Scandi Standard AB (publ) stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at kr74.60 and kr73.83. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical 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 -1.04%. 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 Scandi Standard AB (publ) stock
Scandi Standard AB (publ) finds support from accumulated volume at kr74.30 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 kr1.90 between high and low, or 2.53%. For the last week the stock has had daily average volatility of 2.49%.
Our recommended stop-loss: kr72.77 (-4.13%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 11 days ago.)
Trading Expectations (SCST.ST) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Scandi Standard AB (publ) to open at kr75.93, and during the day (based on 14 day Average True Range), to move between kr73.84 and kr77.96, which gives a possible trading interval of +/-kr2.06 (+/-2.71%) 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 5.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr76.00 (0.13%) than the support at kr74.30 (2.11%), 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?
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 Scandi Standard AB (publ) stock to perform well in the short-term.
Current score: 3.664 Buy Candidate Unchanged
Predicted Opening Price for Scandi Standard AB (publ) of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| kr75.93 ( 0.0439%) | kr75.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SCST.ST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 77.83 | 2.55 % | |
| R2 | 77.11 | 1.59 % | ||
| R1 | 76.66 | 1.00 % | ||
| Current price: | 75.90 | |||
| Support | S1 | 75.21 | -0.91 % | |
| S2 | 74.76 | -1.50 % | ||
| S3 | 74.03 | -2.46 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 76.70 | 1.05 % | |
| R2 | 76.50 | 0.791 % | ||
| R1 | 76.00 | 0.132 % | ||
| Current price | 75.90 | |||
| Support | S1 | 74.30 | -2.11% | |
| S2 | 72.60 | -4.35% | ||
| S3 | 72.10 | -5.01% |
SCST Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 19, 2024 | Sep 19, 2024 | Sep 25, 2024 | kr1.15 | 1.51% |
| 2 | May 06, 2024 | May 06, 2024 | May 13, 2024 | kr2.30 | 3.10% |
| 3 | May 05, 2023 | May 05, 2023 | May 05, 2023 | kr1.15 | 2.16% |
| 4 | May 10, 2021 | May 10, 2021 | May 10, 2021 | kr1.25 | 1.90% |
| 5 | May 10, 2019 | May 10, 2019 | May 10, 2019 | kr2.00 | 3.03% |
FAQ
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