SSAB AB Stock Forecast
On Friday, SSAB AB stock price gained an impressive 5.26%
(Updated on Jun 28, 2024)
The SSAB AB stock price gained 5.26% on the last trading day (Friday, 28th Jun 2024), rising from kr55.52 to kr58.44. During the last trading day the stock fluctuated 5.45% from a day low at kr55.42 to a day high of kr58.44. The price has been going up and down for this period, and there has been a 1.07% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately kr116.60 million.
The stock lies in the middle of a 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 -18.36% during the next 3 months and, with a 90% probability hold a price between kr45.14 and kr49.44 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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SSAB-A.ST Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 27, 2024, and so far it has risen 5.26%. 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). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The SSAB 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 kr60.21. On a fall, the stock will find some support from the short-term average at kr57.23. 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.
Support, Risk & Stop-loss for SSAB AB stock
SSAB AB finds support from accumulated volume at kr58.00 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 kr3.02 between high and low, or 5.45%. For the last week, the stock has had daily average volatility of 3.18%.
Our recommended stop-loss: kr55.82 (-4.48%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (SSAB-A.ST) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect SSAB AB to open at kr57.43, and during the day (based on 14 day Average True Range), to move between kr56.90 and kr59.98, which gives a possible trading interval of +/-kr1.54 (+/-2.64%) up or down from last closing price. If SSAB AB 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 kr58.00 (0.75%) than the resistance at kr61.04 (4.45%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is SSAB AB stock A Buy?
SSAB AB holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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: -0.184 Hold/Accumulate Upgraded
Predicted Opening Price for SSAB AB of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| kr57.43 ( 1.72%) | kr58.44 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SSAB-A.ST
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 60.45 | 3.45% |
| R2 | 59.30 | 1.47% |
| R1 | 58.59 | 0.251% |
| Price | 58.44 | |
| S1 | 56.28 | -3.70% |
| S2 | 55.57 | -4.92% |
| S3 | 54.41 | -6.89% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 64.26 | 9.96% |
| R2 | 63.78 | 9.14% |
| R1 | 61.04 | 4.45% |
| Price | 58.44 | |
| S1 | 58.00 | -0.753% |
| S2 | 57.82 | -1.06% |
| S3 | 56.76 | -2.87% |
SSAB-A Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 25, 2024 | Apr 25, 2024 | May 02, 2024 | kr5.00 | 7.91% |
| 2 | Apr 19, 2023 | Apr 19, 2023 | Apr 19, 2023 | kr8.70 | 12.61% |
| 3 | Apr 07, 2022 | Apr 07, 2022 | Apr 07, 2022 | kr5.25 | 8.60% |
| 4 | Apr 02, 2020 | Apr 02, 2020 | Apr 02, 2020 | kr0.750 | 3.53% |
| 5 | Apr 09, 2019 | Apr 09, 2019 | Apr 09, 2019 | kr1.50 | 4.16% |
FAQ
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