Swedbank AB (publ) Stock Forecast
Evaluation of Swedbank AB (publ) stock downgraded after the last trading session.
(Updated on May 29, 2024)
The Swedbank AB (publ) stock price fell by -2.00% on the last day (Wednesday, 29th May 2024) from $20.51 to $20.10. During the last trading day the stock fluctuated 0.749% from a day low at $20.04 to a day high of $20.19. The price has been going up and down for this period, and there has been a -0.45% loss for the last 2 weeks. 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 -3 thousand shares and in total, 14 thousand shares were bought and sold for approximately $287.85 thousand.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $20.51 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -11.15% during the next 3 months and, with a 90% probability hold a price between $16.15 and $18.23 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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SWDBY Signals & Forecast
The Swedbank AB (publ) stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $20.25. On a fall, the stock will find some support from the long-term average at approximately $19.84. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Friday, April 26, 2024, and so far it has risen 5.19%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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.
Support, Risk & Stop-loss for Swedbank AB (publ) stock
Swedbank AB (publ) finds support from accumulated volume at $19.71 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.150 between high and low, or 0.749%. For the last week the stock has had daily average volatility of 1.00%.
Our recommended stop-loss: $19.34 (-3.80%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 53 days ago.)
Trading Expectations (SWDBY) For The Upcoming Trading Day Of Thursday 30th
For the upcoming trading day on Thursday, 30th we expect Swedbank AB (publ) to open at $20.11, and during the day (based on 14 day Average True Range), to move between $19.74 and $20.46, which gives a possible trading interval of +/-$0.363 (+/-1.81%) up or down from last closing price. If Swedbank AB (publ) takes out the full calculated possible swing range there will be an estimated 3.62% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $20.18 (0.40%) than the support at $19.71 (1.94%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Swedbank AB (publ) stock A Buy?
Swedbank 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 Buy to a Hold/Accumulate candidate.
Current score: 0.450 Hold/Accumulate Downgraded
Predicted Opening Price for Swedbank AB (publ) of Thursday, May 30, 2024
Fair opening price May 30, 2024 | Current price |
---|---|
$20.11 ( 0.0498%) | $20.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SWDBY
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 20.26 | 0.796 % | |
R2 | 20.20 | 0.511 % | ||
R1 | 20.17 | 0.335 % | ||
Current price: | 20.10 | |||
Support | S1 | 20.05 | -0.235 % | |
S2 | 20.02 | -0.411 % | ||
S3 | 19.96 | -0.697 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 21.14 | 5.17 % | |
R2 | 20.21 | 0.547 % | ||
R1 | 20.18 | 0.398 % | ||
Current price | 20.10 | |||
Support | S1 | 19.71 | -1.94% | |
S2 | 19.67 | -2.14% | ||
S3 | 19.18 | -4.58% |
SWDBY Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 13, 2024 | Mar 27, 2024 | Apr 15, 2024 | $0.99 | 5.03% |
2 | Jun 28, 2023 | Mar 31, 2023 | Apr 17, 2023 | $0.761 | 4.38% |
3 | Mar 31, 2022 | Mar 31, 2022 | Apr 18, 2022 | $1.21 | 7.37% |
4 | Oct 30, 2021 | Nov 05, 2021 | Nov 22, 2021 | $0.86 | 3.95% |
5 | Mar 06, 2021 | Mar 26, 2021 | Apr 12, 2021 | $0.345 | 1.86% |
FAQ
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