AB SKF (publ) Stock Forecast
Green day on Monday for AB SKF (publ)
(Updated on May 06, 2024)
The AB SKF (publ) stock price gained 1.28% on the last trading day (Monday, 6th May 2024), rising from $21.47 to $21.75. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 0.99% from a day low at $21.75 to a day high of $21.96. The price has risen in 7 of the last 10 days and is up by 6.07% over the past 2 weeks. Volume fell on the last day by -16 thousand shares and in total, 8 thousand shares were bought and sold for approximately $175.70 thousand. 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 is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect AB SKF (publ) stock with a 90% probability to be traded between $19.42 and $22.24 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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SKFRY Signals & Forecast
The AB SKF (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 $21.11 and $20.99. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 9.33%. Further rise is indicated until a new top pivot has been found. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for AB SKF (publ) stock
AB SKF (publ) finds support from accumulated volume at $21.13 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 controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.215 between high and low, or 0.99%. For the last week the stock has had daily average volatility of 2.29%.
Our recommended stop-loss: $20.90 (-3.90%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (SKFRY) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect AB SKF (publ) to open at $21.82, and during the day (based on 14 day Average True Range), to move between $21.27 and $22.22, which gives a possible trading interval of +/-$0.473 (+/-2.17%) up or down from last closing price. If AB SKF (publ) takes out the full calculated possible swing range there will be an estimated 4.35% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $21.78 (0.16%) than the support at $21.13 (2.83%), 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 AB SKF (publ) stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for AB SKF (publ) stock to perform well in the short-term period.
Current score: 2.999 Buy Candidate Unchanged
Predicted Opening Price for AB SKF (publ) of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $21.82 ( 0.330%) | $21.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SKFRY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.03 | 1.32 % | |
| R2 | 21.95 | 0.94 % | ||
| R1 | 21.90 | 0.707 % | ||
| Current price: | 21.75 | |||
| Support | S1 | 21.73 | -0.0481 % | |
| S2 | 21.68 | -0.281 % | ||
| S3 | 21.60 | -0.659 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.90 | 0.713 % | |
| R2 | 21.80 | 0.259 % | ||
| R1 | 21.78 | 0.161 % | ||
| Current price | 21.75 | |||
| Support | S1 | 21.13 | -2.83% | |
| S2 | 20.58 | -5.35% | ||
| S3 | 20.32 | -6.55% |
SKFRY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 27, 2024 | Mar 27, 2024 | Mar 27, 2024 | $0.724 | 3.48% |
| 2 | Jun 22, 2023 | Mar 24, 2023 | Apr 18, 2023 | $0.675 | 3.41% |
| 3 | Mar 25, 2022 | Mar 25, 2022 | Mar 25, 2022 | $0.765 | 4.80% |
| 4 | Mar 26, 2021 | Mar 26, 2021 | Mar 26, 2021 | $0.771 | 2.73% |
| 5 | Mar 27, 2020 | Mar 27, 2020 | Mar 27, 2020 | $0.291 | 2.29% |
FAQ
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