Scandic Hotels Group AB (publ) Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Weaker technical forecast for Scandic Hotels Group AB (publ) as stock downgraded to Buy Candidate.
(Updated on Jun 28, 2024)
The Scandic Hotels Group AB (publ) stock price fell by -1.08% on the last day (Friday, 28th Jun 2024) from kr64.90 to kr64.20. During the last trading day the stock fluctuated 2.51% from a day low at kr63.85 to a day high of kr65.45. The price has been going up and down for this period, and there has been a 5.59% gain for the last 2 weeks. Volume has increased on the last day by 52 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, 339 thousand shares were bought and sold for approximately kr21.77 million.
The stock lies in the middle of a 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 9.75% during the next 3 months and, with a 90% probability hold a price between kr67.59 and kr71.34 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 kr63.62 and kr61.87. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Thursday, June 27, 2024, and so far it has fallen -1.08%. Further fall is indicated until a new bottom pivot has been found. 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 Scandic Hotels Group AB (publ) stock
On the downside, the stock finds support just below today's level from accumulated volume at kr60.90 and kr59.15. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Scandic Hotels Group AB (publ) finds support just below today's level at kr60.90. If this is broken, then the next support from accumulated volume will be at kr59.15 and kr57.35.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved kr1.60 (2.51%) between high and low. For the last week, the stock has had daily average volatility of 2.12%.
Our recommended stop-loss: kr61.96 (-3.49%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 54 days ago.)
Trading Expectations (SHOT.ST) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Scandic Hotels Group AB (publ) to open at kr64.50, and during the day (based on 14 day Average True Range), to move between kr62.68 and kr65.72, which gives a possible trading interval of +/-kr1.52 (+/-2.36%) 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 4.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr64.90 (1.09%) than the support at kr60.90 (5.14%), 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 Scandic Hotels Group 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 Scandic Hotels Group AB (publ) stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 1.821 Buy Candidate Downgraded
Predicted Opening Price for Scandic Hotels Group AB (publ) of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| kr64.50 ( 0.467%) | kr64.20 |
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 | 66.10 | 2.96% |
| R2 | 65.49 | 2.01% |
| R1 | 65.11 | 1.42% |
| Price | 64.20 | |
| S1 | 63.89 | -0.485% |
| S2 | 63.51 | -1.07% |
| S3 | 62.90 | -2.02% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 64.90 | 1.09% |
| Price | 64.20 | |
| S1 | 60.90 | -5.14% |
| S2 | 59.15 | -7.87% |
| S3 | 57.35 | -10.67% |
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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