SKF AB Stock Forecast

Green day on Friday for SKF AB stock after gaining 0.425%
(Updated on Jun 28, 2024)

SKF-B.ST Signals & Forecast

There are mixed signals in the stock today. The SKF AB stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at kr224.73. On a fall, the stock will find some support from the short-term average at kr211.67. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 2.75%. 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.

Support, Risk & Stop-loss for SKF AB stock

SKF AB finds support from accumulated volume at kr211.10 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 kr2.00 between high and low, or 0.95%. For the last week, the stock has had daily average volatility of 1.87%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (SKF-B.ST) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect SKF AB to open at kr212.53, and during the day (based on 14 day Average True Range), to move between kr208.31 and kr217.29, which gives a possible trading interval of +/-kr4.49 (+/-2.11%) up or down from last closing price. If SKF AB takes out the full calculated possible swing range there will be an estimated 4.22% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr214.20 (0.66%) than the support at kr211.10 (0.80%), 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 SKF AB stock A Buy?

SKF AB holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -1.760 Sell Candidate Unchanged

Predicted Opening Price for SKF AB of Monday, July 1, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.