SSAB AB (publ) Stock Forecast
Red day on Friday for SSAB AB (publ) stock after losing 0.412%
(Updated on May 03, 2024)
The SSAB AB (publ) stock price fell by -0.412% on the last day (Friday, 3rd May 2024) from kr63.10 to kr62.84. During the last trading day the stock fluctuated 2.30% from a day low at kr62.68 to a day high of kr64.12. The price has been going up and down for this period, and there has been a -2.09% loss for the last 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 -369 thousand shares and in total, 4 million shares were bought and sold for approximately kr267.75 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 -22.64% during the next 3 months and, with a 90% probability hold a price between kr45.98 and kr56.12 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-B.ST Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 2.71%. 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. The SSAB AB (publ) 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 kr70.62. On a fall, the stock will find some support from the short-term average at kr62.73. 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. 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 SSAB AB (publ) stock
SSAB AB (publ) finds support from accumulated volume at kr62.30 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 kr1.44 between high and low, or 2.30%. For the last week, the stock has had daily average volatility of 2.87%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SSAB-B.ST) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect SSAB AB (publ) to open at kr63.21, and during the day (based on 14 day Average True Range), to move between kr60.56 and kr65.12, which gives a possible trading interval of +/-kr2.28 (+/-3.62%) up or down from last closing price. If SSAB AB (publ) takes out the full calculated possible swing range there will be an estimated 7.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr62.30 (0.86%) than the resistance at kr64.56 (2.74%), 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 (publ) stock A Buy?
SSAB AB (publ) 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: -3.237 Sell Candidate Unchanged
Predicted Opening Price for SSAB AB (publ) of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| kr63.21 ( 0.594%) | kr62.84 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SSAB-B.ST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 64.65 | 2.89 % | |
| R2 | 64.10 | 2.01 % | ||
| R1 | 63.76 | 1.47 % | ||
| Current price: | 62.84 | |||
| Support | S1 | 62.66 | -0.281 % | |
| S2 | 62.32 | -0.82 % | ||
| S3 | 61.77 | -1.70 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 73.86 | 17.54 % | |
| R2 | 69.90 | 11.23 % | ||
| R1 | 64.56 | 2.74 % | ||
| Current price | 62.84 | |||
| Support | S1 | 62.30 | -0.86% | |
| S2 | 61.70 | -1.81% | ||
| S3 | 61.18 | -2.64% |
SSAB-B Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 25, 2024 | Apr 25, 2024 | May 02, 2024 | kr5.00 | 7.92% |
| 2 | Apr 19, 2023 | Apr 19, 2023 | Apr 19, 2023 | kr8.70 | 13.07% |
| 3 | Apr 07, 2022 | Apr 07, 2022 | Apr 07, 2022 | kr5.25 | 9.06% |
| 4 | Apr 02, 2020 | Apr 02, 2020 | Apr 02, 2020 | kr0.750 | 3.60% |
| 5 | Apr 09, 2019 | Apr 09, 2019 | Apr 09, 2019 | kr1.50 | 4.86% |
FAQ
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