Svolder AB (publ) Stock Forecast

Weaker technical forecast for Svolder AB (publ) as stock downgraded to Hold/Accumulate.
(Updated on May 10, 2024)

SVOL-B.ST Signals & Forecast

The Svolder AB (publ) stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at kr64.39 and kr61.54. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 20.11%. 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). Volume is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for Svolder AB (publ) stock

On the downside, the stock finds support just below today's level from accumulated volume at kr61.55 and kr58.60. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Svolder AB (publ) finds support just below today's level at kr61.55. If this is broken, then the next support from accumulated volume will be at kr58.60 and kr57.25.

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 kr1.20 between high and low, or 1.81%. For the last week, the stock has had daily average volatility of 2.12%.

Since the Svolder AB (publ) has been rising for 9 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.

Our recommended stop-loss: kr64.85 (-3.50%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 9 days ago.)

Trading Expectations (SVOL-B.ST) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect Svolder AB (publ) to open at kr67.10, and during the day (based on 14 day Average True Range), to move between kr65.63 and kr68.77, which gives a possible trading interval of +/-kr1.57 (+/-2.34%) up or down from last closing price. If Svolder AB (publ) takes out the full calculated possible swing range there will be an estimated 4.68% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ kr61.55, some kr5.65 (8.41%) from the current price of kr67.20, our system finds the risk reward attractive.

Is Svolder AB (publ) stock A Buy?

Svolder AB (publ) holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Downgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Svolder AB (publ) of Monday, May 13, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.