Scandinavian Tobacco Group A/S Stock Forecast
Scandinavian Tobacco Group A/S stock downgraded to Strong Sell Candidate
(Updated on May 21, 2024)
The Scandinavian Tobacco Group A/S stock price fell by -1.99% on the last day (Tuesday, 21st May 2024) from kr100.60 to kr98.60. During the last trading day the stock fluctuated 2.64% from a day low at kr98.40 to a day high of kr101.00. The price has fallen in 8 of the last 10 days and is down by -12.59% for this period. Volume has increased on the last day by 175 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 343 thousand shares were bought and sold for approximately kr33.79 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 -20.85% during the next 3 months and, with a 90% probability hold a price between kr74.18 and kr84.13 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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STG.CO Signals & Forecast
There are few to no technical positive signals at the moment. The Scandinavian Tobacco Group A/S 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 kr100.40 and kr110.49. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -22.61%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Scandinavian Tobacco Group A/S stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 kr2.60 between high and low, or 2.64%. For the last week, the stock has had daily average volatility of 1.52%.
Scandinavian Tobacco Group A/S is oversold on RSI14 (8). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (STG.CO) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect Scandinavian Tobacco Group A/S to open at kr99.33, and during the day (based on 14 day Average True Range), to move between kr96.24 and kr100.96, which gives a possible trading interval of +/-kr2.36 (+/-2.40%) up or down from last closing price. If Scandinavian Tobacco Group A/S takes out the full calculated possible swing range there will be an estimated 4.79% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ kr102.00, some kr3.40 (3.45%) from the current price of kr98.60, our system finds the risk reward not very attractive.
Is Scandinavian Tobacco Group A/S stock A Buy?
Scandinavian Tobacco Group A/S 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -6.088 Strong Sell Candidate Downgraded
Predicted Opening Price for Scandinavian Tobacco Group A/S of Wednesday, May 22, 2024
| Fair opening price May 22, 2024 | Current price |
|---|---|
| kr99.33 ( 0.744%) | kr98.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for STG.CO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 101.93 | 3.38 % | |
| R2 | 100.94 | 2.37 % | ||
| R1 | 100.33 | 1.75 % | ||
| Current price: | 98.60 | |||
| Support | S1 | 98.34 | -0.264 % | |
| S2 | 97.73 | -0.89 % | ||
| S3 | 96.73 | -1.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 117.60 | 19.27 % | |
| R2 | 112.80 | 14.40 % | ||
| R1 | 102.00 | 3.45 % | ||
| Current price | 98.60 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
STG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 05, 2024 | Apr 05, 2024 | Apr 05, 2024 | kr0 | 0% |
| 2 | Apr 14, 2023 | Apr 14, 2023 | Apr 14, 2023 | kr8.25 | 6.27% |
| 3 | Apr 01, 2022 | Apr 01, 2022 | Apr 01, 2022 | kr7.50 | 5.49% |
| 4 | Apr 15, 2021 | Apr 15, 2021 | Apr 15, 2021 | kr6.50 | 5.38% |
| 5 | Mar 27, 2020 | Mar 27, 2020 | Mar 27, 2020 | kr6.10 | 8.82% |
FAQ
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