Skanska AB (publ) Stock Forecast
Skanska AB (publ) stock downgraded to Sell Candidate
(Updated on May 31, 2024)
The Skanska AB (publ) stock price fell by -1.33% on the last day (Friday, 31st May 2024) from kr187.75 to kr185.25. During the last trading day the stock fluctuated 1.65% from a day low at kr184.70 to a day high of kr187.75. The price has fallen in 7 of the last 10 days and is down by -5.53% for this period. Volume has increased on the last day by 3 million 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, 4 million shares were bought and sold for approximately kr723.57 million.
The stock is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at kr184.85 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Skanska AB (publ) stock with a 90% probability to be traded between kr182.81 and kr198.75 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SKA-B.ST Signals & Forecast
There are few to no technical positive signals at the moment. The Skanska 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 kr188.95 and kr191.93. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -8.11%. 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). 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 Skanska AB (publ) stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 kr3.05 (1.65%) between high and low. For the last week, the stock has had daily average volatility of 1.80%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SKA-B.ST) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Skanska AB (publ) to open at kr185.90, and during the day (based on 14 day Average True Range), to move between kr181.33 and kr189.17, which gives a possible trading interval of +/-kr3.92 (+/-2.12%) up or down from last closing price. If Skanska AB (publ) takes out the full calculated possible swing range there will be an estimated 4.23% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ kr189.85, some kr4.60 (2.48%) from the current price of kr185.25, our system finds the risk reward not very attractive.
Is Skanska AB (publ) stock A Buy?
Skanska AB (publ) holds several negative signals and is within a 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.648 Sell Candidate Downgraded
Predicted Opening Price for Skanska AB (publ) of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| kr185.90 ( 0.351%) | kr185.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SKA-B.ST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 188.95 | 2.00 % | |
| R2 | 187.78 | 1.37 % | ||
| R1 | 187.07 | 0.98 % | ||
| Current price: | 185.25 | |||
| Support | S1 | 184.73 | -0.278 % | |
| S2 | 184.02 | -0.667 % | ||
| S3 | 182.85 | -1.30 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 197.20 | 6.45 % | |
| R2 | 195.50 | 5.53 % | ||
| R1 | 189.85 | 2.48 % | ||
| Current price | 185.25 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
SKA-B Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 04, 2024 | Apr 04, 2024 | Apr 04, 2024 | kr0 | 0% |
| 2 | Mar 28, 2024 | Mar 28, 2024 | Apr 05, 2024 | kr5.50 | 2.86% |
| 3 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | kr7.50 | 4.80% |
| 4 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | kr3.00 | 1.40% |
| 5 | Mar 31, 2021 | Mar 31, 2021 | Mar 31, 2021 | kr3.00 | 1.37% |
FAQ
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