Scandic Hotels Group AB (publ) Stock Forecast
Stronger technical forecast for Scandic Hotels Group AB (publ) stock price after Tuesday trading.
(Updated on Jun 25, 2024)
The Scandic Hotels Group AB (publ) stock price gained 1.75% on the last trading day (Tuesday, 25th Jun 2024), rising from kr63.00 to kr64.10. During the last trading day the stock fluctuated 2.72% from a day low at kr62.60 to a day high of kr64.30. The price has been going up and down for this period, and there has been a 4.4% gain for the last 2 weeks. Volume fell on the last day by -101 thousand shares and in total, 328 thousand shares were bought and sold for approximately kr21.02 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and weak 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 6.92% during the next 3 months and, with a 90% probability hold a price between kr64.19 and kr71.42 at the end of this 3-month period.
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SHOT.ST Signals & Forecast
The Scandic Hotels Group 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 kr62.29 and kr61.57. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 7.28%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Scandic Hotels Group AB (publ) stock
Scandic Hotels Group AB (publ) finds support from accumulated volume at kr60.90 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 kr1.70 between high and low, or 2.72%. For the last week the stock has had daily average volatility of 2.47%.
Our recommended stop-loss: kr60.73 (-5.25%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 19 days ago.)
Trading Expectations (SHOT.ST) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Scandic Hotels Group AB (publ) to open at kr63.67, and during the day (based on 14 day Average True Range), to move between kr62.52 and kr65.68, which gives a possible trading interval of +/-kr1.58 (+/-2.46%) up or down from last closing price. If Scandic Hotels Group AB (publ) takes out the full calculated possible swing range there will be an estimated 4.92% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ kr60.90, some kr3.20 (4.99%) from the current price of kr64.10, our system finds the risk reward attractive.
Is Scandic Hotels Group AB (publ) stock A Buy?
Scandic Hotels Group AB (publ) holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 8.013 Strong Buy Candidate Upgraded
Predicted Opening Price for Scandic Hotels Group AB (publ) of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| kr63.67 ( 0.676%) | kr64.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SHOT.ST
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 65.37 | 1.98% |
| R2 | 64.72 | 0.96% |
| R1 | 64.32 | 0.337% |
| Price | 64.10 | |
| S1 | 63.02 | -1.69% |
| S2 | 62.62 | -2.32% |
| S3 | 61.97 | -3.33% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 64.10 | |
| S1 | 60.90 | -4.99% |
| S2 | 59.15 | -7.72% |
| S3 | 57.35 | -10.53% |
SHOT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 25, 2019 | Oct 25, 2019 | Oct 25, 2019 | kr1.24 | 1.34% |
| 2 | May 08, 2019 | May 08, 2019 | May 08, 2019 | kr1.24 | 1.57% |
| 3 | Oct 29, 2018 | Oct 29, 2018 | Oct 29, 2018 | kr1.21 | 1.46% |
| 4 | Apr 27, 2018 | Apr 27, 2018 | Apr 27, 2018 | kr1.21 | 1.40% |
| 5 | May 11, 2017 | May 11, 2017 | May 11, 2017 | kr2.23 | 2.17% |
FAQ
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