SSAB AB (publ) Stock Forecast
SSAB AB (publ) stock price up 2.78% on Monday
(Updated on Apr 29, 2024)
The SSAB AB (publ) stock price gained 2.78% on the last trading day (Monday, 29th Apr 2024), rising from 5.26€ to 5.40€. During the last trading day the stock fluctuated 2.85% from a day low at 5.25€ to a day high of 5.40€. The price has been going up and down for this period, and there has been a -7.72% loss 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, 143 thousand more shares were traded than the day before. In total, 718 thousand shares were bought and sold for approximately 3.88€ 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 -23.45% during the next 3 months and, with a 90% probability hold a price between 3.97€ and 4.66€ 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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SSABBH.HE Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 3.13%. Further rise is indicated until a new top pivot has been found. 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 (publ) stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at 5.41€ and 6.25€. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for SSAB AB (publ) stock
SSAB AB (publ) finds support from accumulated volume at 5.26€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved 0.150€ between high and low, or 2.85%. For the last week, the stock has had daily average volatility of 3.73%.
SSAB AB (publ) is oversold on RSI14 (23). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SSABBH.HE) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect SSAB AB (publ) to open at 5.35€, and during the day (based on 14 day Average True Range), to move between 5.19€ and 5.62€, which gives a possible trading interval of +/-0.213€ (+/-3.94%) up or down from last closing price. If SSAB AB (publ) takes out the full calculated possible swing range there will be an estimated 7.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 5.26€ (2.70%) than the resistance at 5.56€ (2.85%), 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 is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.232 Sell Candidate Unchanged
Predicted Opening Price for SSAB AB (publ) of Tuesday, April 30, 2024
| Fair opening price April 30, 2024 | Current price |
|---|---|
| 5.35€ ( 0.93%) | 5.40€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SSABBH.HE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.50 | 1.85 % | |
| R2 | 5.45 | 0.790 % | ||
| R1 | 5.41 | 0.135 % | ||
| Current price: | 5.40 | |||
| Support | S1 | 5.30 | -1.99 % | |
| S2 | 5.26 | -2.64 % | ||
| S3 | 5.20 | -3.70 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.41 | 18.62 % | |
| R2 | 6.23 | 15.28 % | ||
| R1 | 5.56 | 2.85 % | ||
| Current price | 5.40 | |||
| Support | S1 | 5.26 | -2.70% | |
| S2 | 5.24 | -3.03% | ||
| S3 | 0 | . |
SSABBH Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 25, 2024 | Apr 25, 2024 | May 02, 2024 | 0.441€ | 8.18% |
| 2 | Apr 19, 2023 | Apr 19, 2023 | Apr 19, 2023 | 8.70€ | 147.71% |
| 3 | Apr 07, 2022 | Apr 07, 2022 | Apr 07, 2022 | 5.25€ | 93.58% |
| 4 | Apr 02, 2020 | Apr 02, 2020 | Apr 02, 2020 | 0.750€ | 39.68% |
| 5 | Apr 09, 2019 | Apr 09, 2019 | Apr 09, 2019 | 1.50€ | 50.51% |
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