Suominen Oyj Stock Forecast
Weaker technical forecast for Suominen Oyj as stock downgraded to Strong Sell Candidate.
(Updated on May 02, 2024)
The Suominen Oyj stock price fell by -4.21% on the last day (Thursday, 2nd May 2024) from 2.61€ to 2.50€. During the last trading day the stock fluctuated 6.00% from a day low at 2.50€ to a day high of 2.65€. The price has fallen in 6 of the last 10 days and is down by -7.41% 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 -718 shares and in total, 2 thousand shares were bought and sold for approximately 3.94€ thousand.
The stock has broken the horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately 2.61€ is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
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SUY1V.HE Signals & Forecast
There are few to no technical positive signals at the moment. The Suominen Oyj 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 2.61€ and 2.72€. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -12.59%. 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 fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Suominen Oyj 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved 0.150€ between high and low, or 6.00%. For the last week the stock has had daily average volatility of 2.05%.
Suominen Oyj is oversold on RSI14 (22). 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 (SUY1V.HE) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Suominen Oyj to open at 2.55€, and during the day (based on 14 day Average True Range), to move between 2.42€ and 2.58€, which gives a possible trading interval of +/-0.0797€ (+/-3.19%) up or down from last closing price. If Suominen Oyj takes out the full calculated possible swing range there will be an estimated 6.37% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ 2.65€, some 0.150€ (6.00%) from the current price of 2.50€, our system finds the risk reward not very attractive.
Earnings coming up
Suominen Oyj will release earnings BMO on Tuesday, May 07, 2024. We will update the financials statements for Suominen Oyj, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.85% in the first trading day after earnings release.
Is Suominen Oyj stock A Buy?
Suominen Oyj holds several negative signals and is within a 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 Hold/Accumulate to a Strong Sell candidate.
Current score: -5.256 Strong Sell Candidate Downgraded
Predicted Opening Price for Suominen Oyj of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| 2.55€ ( 2.00%) | 2.50€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SUY1V.HE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.70 | 8.00 % | |
| R2 | 2.64 | 5.71 % | ||
| R1 | 2.61 | 4.29 % | ||
| Current price: | 2.50 | |||
| Support | S1 | 2.49 | -0.292 % | |
| S2 | 2.46 | -1.71 % | ||
| S3 | 2.40 | -4.00 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.72 | 8.80 % | |
| R2 | 2.71 | 8.40 % | ||
| R1 | 2.65 | 6.00 % | ||
| Current price | 2.50 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
SUY1V Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 05, 2024 | Apr 05, 2024 | Apr 05, 2024 | 0€ | 0% |
| 2 | Apr 04, 2023 | Apr 04, 2023 | Apr 04, 2023 | 0.100€ | 3.33% |
| 3 | Mar 25, 2022 | Mar 25, 2022 | Mar 25, 2022 | 0.200€ | 5.80% |
| 4 | Mar 26, 2021 | Mar 26, 2021 | Mar 26, 2021 | 0.200€ | 3.46% |
| 5 | Mar 20, 2020 | Mar 20, 2020 | Mar 20, 2020 | 0.0500€ | 2.38% |
FAQ
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