Solar A/S Stock Forecast
Weaker technical forecast for Solar A/S as stock downgraded to Sell Candidate.
(Updated on May 21, 2024)
The Solar A/S stock price fell by -3.57% on the last day (Tuesday, 21st May 2024) from kr350.00 to kr337.50. During the last trading day the stock fluctuated 4.15% from a day low at kr337.00 to a day high of kr351.00. The price has risen in 7 of the last 10 days and is up by 3.37% over the past 2 weeks. 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 -23 thousand shares and in total, 25 thousand shares were bought and sold for approximately kr8.33 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -12.94% during the next 3 months and, with a 90% probability hold a price between kr257.55 and kr303.91 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SOLAR-B.CO Signals & Forecast
The Solar A/S stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately kr341.50. On a fall, the stock will find some support from the long-term average at approximately kr326.81. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 9.05%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Solar A/S stock
Solar A/S finds support from accumulated volume at kr330.50 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved kr14.00 between high and low, or 4.15%. For the last week, the stock has had daily average volatility of 2.94%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SOLAR-B.CO) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect Solar A/S to open at kr341.83, and during the day (based on 14 day Average True Range), to move between kr328.59 and kr346.41, which gives a possible trading interval of +/-kr8.91 (+/-2.64%) up or down from last closing price. If Solar A/S takes out the full calculated possible swing range there will be an estimated 5.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr330.50 (2.07%) than the resistance at kr347.00 (2.81%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Solar A/S stock A Buy?
Solar A/S 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. 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: -1.194 Sell Candidate Downgraded
Predicted Opening Price for Solar A/S of Wednesday, May 22, 2024
| Fair opening price May 22, 2024 | Current price |
|---|---|
| kr341.83 ( 1.28%) | kr337.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SOLAR-B.CO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 355.83 | 5.43 % | |
| R2 | 350.49 | 3.85 % | ||
| R1 | 347.18 | 2.87 % | ||
| Current price: | 337.50 | |||
| Support | S1 | 336.49 | -0.301 % | |
| S2 | 333.18 | -1.28 % | ||
| S3 | 327.83 | -2.86 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 357.00 | 5.78 % | |
| R2 | 350.00 | 3.70 % | ||
| R1 | 347.00 | 2.81 % | ||
| Current price | 337.50 | |||
| Support | S1 | 330.50 | -2.07% | |
| S2 | 330.00 | -2.22% | ||
| S3 | 324.00 | -4.00% |
SOLAR-B Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 18, 2024 | Mar 18, 2024 | Mar 20, 2024 | kr30.00 | 9.26% |
| 2 | Mar 20, 2023 | Mar 20, 2023 | Mar 20, 2023 | kr45.00 | 7.94% |
| 3 | May 12, 2022 | May 12, 2022 | May 12, 2022 | kr45.00 | 6.64% |
| 4 | Mar 21, 2022 | Mar 21, 2022 | Mar 21, 2022 | kr45.00 | 6.02% |
| 5 | May 11, 2021 | May 11, 2021 | May 11, 2021 | kr15.00 | 2.59% |
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