AB SKF (publ) Stock Forecast
AB SKF (publ) stock upgraded from Sell Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Jun 25, 2024)
The AB SKF (publ) stock price fell by -1.18% on the last day (Tuesday, 25th Jun 2024) from kr211.50 to kr209.00. During the last trading day the stock fluctuated 1.67% from a day low at kr209.00 to a day high of kr212.50. The price has fallen in 6 of the last 10 days and is down by -7.11% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -728 shares and in total, 2 thousand shares were bought and sold for approximately kr407.76 thousand.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at kr204.86 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -2.61% during the next 3 months and, with a 90% probability hold a price between kr199.51 and kr230.50 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
SKF-A.ST Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 1.70%. 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 AB SKF (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 kr209.86 and kr226.11. 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 fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for AB SKF (publ) stock
AB SKF (publ) finds support from accumulated volume at kr205.50 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved kr3.50 between high and low, or 1.67%. For the last week the stock has had daily average volatility of 1.57%.
Our recommended stop-loss: kr196.37 (-6.05%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 31 days ago.)
Trading Expectations (SKF-A.ST) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect AB SKF (publ) to open at kr210.17, and during the day (based on 14 day Average True Range), to move between kr204.35 and kr213.65, which gives a possible trading interval of +/-kr4.65 (+/-2.23%) up or down from last closing price. If AB SKF (publ) takes out the full calculated possible swing range there will be an estimated 4.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr205.50 (1.67%) than the resistance at kr218.00 (4.31%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is AB SKF (publ) stock A Buy?
AB SKF (publ) holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.418 Hold/Accumulate Upgraded
Predicted Opening Price for AB SKF (publ) of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| kr210.17 ( 0.558%) | kr209.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SKF-A.ST
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 213.67 | 2.23% |
| R2 | 212.33 | 1.59% |
| R1 | 211.50 | 1.20% |
| Price | 209.00 | |
| S1 | 208.83 | -0.0815% |
| S2 | 208.00 | -0.477% |
| S3 | 206.67 | -1.12% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 231.50 | 10.77% |
| R2 | 226.50 | 8.37% |
| R1 | 218.00 | 4.31% |
| Price | 209.00 | |
| S1 | 205.50 | -1.67% |
| S2 | 0 | - |
| S3 | 0 | - |
SKF-A Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 27, 2024 | Mar 27, 2024 | Apr 04, 2024 | kr7.50 | 3.28% |
| 2 | Mar 24, 2023 | Mar 24, 2023 | Mar 24, 2023 | kr7.00 | 3.69% |
| 3 | Mar 25, 2022 | Mar 25, 2022 | Mar 25, 2022 | kr7.00 | 3.95% |
| 4 | Mar 26, 2021 | Mar 26, 2021 | Mar 26, 2021 | kr6.50 | 2.69% |
| 5 | Mar 27, 2020 | Mar 27, 2020 | Mar 27, 2020 | kr3.00 | 2.36% |
FAQ
Click here for our free guide on how to buy AB SKF (publ) Stock.
