Svenska Handelsbanken AB (publ) Stock Forecast
Red day on Wednesday for Svenska Handelsbanken AB (publ)
(Updated on May 08, 2024)
The Svenska Handelsbanken AB (publ) stock price fell by -2.20% on the last day (Wednesday, 8th May 2024) from kr122.50 to kr119.80. During the last trading day the stock fluctuated 2.85% from a day low at kr119.30 to a day high of kr122.70. The price has fallen in 6 of the last 10 days and is down by -12.36% for this period. Volume has increased on the last day by 64 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, 158 thousand shares were bought and sold for approximately kr18.98 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 -21.70% during the next 3 months and, with a 90% probability hold a price between kr90.61 and kr104.51 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-B.ST Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 0.84%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Svenska Handelsbanken AB (publ) stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at kr120.64 and kr132.28. A break-up above any of these levels will issue buy signals. 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 Svenska Handelsbanken AB (publ) stock
Svenska Handelsbanken AB (publ) finds support from accumulated volume at kr119.70 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 kr3.40 between high and low, or 2.85%. For the last week, the stock has had daily average volatility of 2.01%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SHB-B.ST) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Svenska Handelsbanken AB (publ) to open at kr120.60, and during the day (based on 14 day Average True Range), to move between kr116.46 and kr123.14, which gives a possible trading interval of +/-kr3.34 (+/-2.79%) up or down from last closing price. If Svenska Handelsbanken AB (publ) takes out the full calculated possible swing range there will be an estimated 5.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr119.70 (0.08%) than the resistance at kr123.20 (2.84%), 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 (publ) stock A Buy?
Svenska Handelsbanken AB (publ) holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.227 Sell Candidate Unchanged
Predicted Opening Price for Svenska Handelsbanken AB (publ) of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| kr120.60 ( 0.668%) | kr119.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SHB-B.ST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 124.00 | 3.51 % | |
| R2 | 122.70 | 2.42 % | ||
| R1 | 121.90 | 1.75 % | ||
| Current price: | 119.80 | |||
| Support | S1 | 119.30 | -0.416 % | |
| S2 | 118.50 | -1.09 % | ||
| S3 | 117.20 | -2.17 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 139.60 | 16.53 % | |
| R2 | 135.00 | 12.69 % | ||
| R1 | 123.20 | 2.84 % | ||
| Current price | 119.80 | |||
| Support | S1 | 119.70 | -0.0835% | |
| S2 | 119.50 | -0.250% | ||
| S3 | 118.80 | -0.83% |
SHB-B Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 21, 2024 | Mar 21, 2024 | Mar 27, 2024 | kr13.00 | 9.63% |
| 2 | Mar 23, 2023 | Mar 23, 2023 | Mar 23, 2023 | kr2.50 | 2.32% |
| 3 | Mar 24, 2022 | Mar 24, 2022 | Mar 24, 2022 | kr5.00 | 4.87% |
| 4 | Mar 25, 2021 | Mar 25, 2021 | Mar 25, 2021 | kr4.10 | 3.81% |
| 5 | Mar 26, 2020 | Mar 26, 2020 | Mar 26, 2020 | kr5.50 | 5.92% |
FAQ
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