Stora Enso Oyj Stock Forecast
Stora Enso Oyj stock downgraded to Sell Candidate
(Updated on Jun 24, 2024)
The Stora Enso Oyj stock price fell by -0.632% on the last day (Monday, 24th Jun 2024) from 12.66€ to 12.58€. During the last trading day the stock fluctuated 1.89% from a day low at 12.41€ to a day high of 12.65€. The price has fallen in 6 of the last 10 days and is down by -1.56% for this period. 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 -2 million shares and in total, 756 thousand shares were bought and sold for approximately 9.50€ million.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at 12.32€ will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Stora Enso Oyj stock with a 90% probability to be traded between 12.41€ and 13.98€ 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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STERV.HE Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 2.15%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Stora Enso Oyj 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 13.11€. On a fall, the stock will find some support from the short-term average at 12.54€. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Stora Enso Oyj stock
Stora Enso Oyj finds support from accumulated volume at 12.57€ 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 0.235€ between high and low, or 1.89%. For the last week, the stock has had daily average volatility of 1.99%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (STERV.HE) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect Stora Enso Oyj to open at 12.55€, and during the day (based on 14 day Average True Range), to move between 12.27€ and 12.89€, which gives a possible trading interval of +/-0.313€ (+/-2.49%) up or down from last closing price. If Stora Enso Oyj takes out the full calculated possible swing range there will be an estimated 4.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 12.57€ (0.08%) than the resistance at 12.70€ (0.91%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Stora Enso Oyj stock A Buy?
Stora Enso Oyj 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: -1.083 Sell Candidate Downgraded
Predicted Opening Price for Stora Enso Oyj of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| 12.55€ ( 0.278%) | 12.58€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for STERV.HE
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.78 | 1.59% |
| R2 | 12.69 | 0.88% |
| R1 | 12.63 | 0.435% |
| Price | 12.58 | |
| S1 | 12.46 | -0.99% |
| S2 | 12.40 | -1.43% |
| S3 | 12.31 | -2.15% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.41 | 6.60% |
| R2 | 12.86 | 2.19% |
| R1 | 12.70 | 0.91% |
| Price | 12.58 | |
| S1 | 12.57 | -0.0795% |
| S2 | 12.47 | -0.91% |
| S3 | 12.39 | -1.55% |
STERV Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 21, 2024 | Mar 21, 2024 | Apr 04, 2024 | 0.100€ | 0.758% |
| 2 | Mar 17, 2023 | Mar 17, 2023 | Mar 17, 2023 | 0.600€ | 5.31% |
| 3 | Mar 16, 2022 | Mar 16, 2022 | Mar 16, 2022 | 0.550€ | 3.27% |
| 4 | Mar 22, 2021 | Mar 22, 2021 | Mar 22, 2021 | 0.300€ | 1.85% |
| 5 | Dec 09, 2020 | Dec 09, 2020 | Dec 09, 2020 | 0.150€ | 1.02% |
FAQ
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