Svenska Handelsbanken AB Stock Forecast
Svenska Handelsbanken AB stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Jun 28, 2024)
The Svenska Handelsbanken AB stock price gained 1.01% on the last trading day (Friday, 28th Jun 2024), rising from kr99.94 to kr100.95. It has now gained 3 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 1.20% from a day low at kr100.15 to a day high of kr101.35. The price has risen in 6 of the last 10 days and is up by 1.83% 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, 2 million more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately kr530.35 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -8.92% during the next 3 months and, with a 90% probability hold a price between kr80.65 and kr96.05 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SHB-A.ST Signals & Forecast
Mostly positive signals in the chart today. The Svenska Handelsbanken AB 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 kr99.92 and kr98.95. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 29, 2024, and so far it has risen 5.66%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Svenska Handelsbanken AB stock
Svenska Handelsbanken AB finds support from accumulated volume at kr99.50 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 kr1.20 between high and low, or 1.20%. For the last week the stock has had daily average volatility of 1.46%.
Our recommended stop-loss: kr96.97 (-3.94%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 78 days ago.)
Trading Expectations (SHB-A.ST) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Svenska Handelsbanken AB to open at kr100.82, and during the day (based on 14 day Average True Range), to move between kr99.31 and kr102.59, which gives a possible trading interval of +/-kr1.64 (+/-1.63%) up or down from last closing price. If Svenska Handelsbanken AB takes out the full calculated possible swing range there will be an estimated 3.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr99.50 (1.44%) than the resistance at kr108.20 (7.18%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Svenska Handelsbanken AB stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.262 Buy Candidate Upgraded
Predicted Opening Price for Svenska Handelsbanken AB of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| kr100.82 ( 0.132%) | kr100.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SHB-A.ST
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 102.02 | 1.06% |
| R2 | 101.56 | 0.603% |
| R1 | 101.28 | 0.322% |
| Price | 100.95 | |
| S1 | 100.36 | -0.586% |
| S2 | 100.08 | -0.87% |
| S3 | 99.62 | -1.32% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 110.70 | 9.66% |
| R2 | 109.50 | 8.47% |
| R1 | 108.20 | 7.18% |
| Price | 100.95 | |
| S1 | 99.50 | -1.44% |
| S2 | 98.88 | -2.05% |
| S3 | 96.44 | -4.47% |
SHB-A Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 21, 2024 | Mar 21, 2024 | Mar 27, 2024 | kr13.00 | 11.98% |
| 2 | Mar 23, 2023 | Mar 23, 2023 | Mar 23, 2023 | kr2.50 | 2.87% |
| 3 | Mar 24, 2022 | Mar 24, 2022 | Mar 24, 2022 | kr5.00 | 5.67% |
| 4 | Mar 25, 2021 | Mar 25, 2021 | Mar 25, 2021 | kr4.10 | 4.34% |
| 5 | Mar 26, 2020 | Mar 26, 2020 | Mar 26, 2020 | kr5.50 | 6.39% |
FAQ
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