Swedbank AB (publ) Stock Forecast
Weaker technical forecast for Swedbank AB (publ) as stock downgraded to Sell Candidate.
(Updated on Jun 25, 2024)
The Swedbank AB (publ) stock price fell by -1.33% on the last day (Tuesday, 25th Jun 2024) from kr218.00 to kr215.10. During the last trading day the stock fluctuated 1.72% from a day low at kr214.70 to a day high of kr218.40. The price has been going up and down for this period, and there has been a -0.23% 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 -627 thousand shares and in total, 1 million shares were bought and sold for approximately kr301.20 million.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Swedbank AB (publ) stock with a 90% probability to be traded between kr207.79 and kr221.41 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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SWED-A.ST Signals & Forecast
There are mixed signals in the stock today. The Swedbank AB (publ) 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 kr216.40. On a fall, the stock will find some support from the short-term average at kr213.86. 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. A sell signal was issued from a pivot top point on Monday, May 13, 2024, and so far it has fallen -2.93%. 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 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 Swedbank AB (publ) stock
Swedbank AB (publ) finds support from accumulated volume at kr213.90 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 very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved kr3.70 between high and low, or 1.72%. For the last week the stock has had daily average volatility of 1.61%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SWED-A.ST) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Swedbank AB (publ) to open at kr216.07, and during the day (based on 14 day Average True Range), to move between kr210.95 and kr219.25, which gives a possible trading interval of +/-kr4.15 (+/-1.93%) up or down from last closing price. If Swedbank AB (publ) takes out the full calculated possible swing range there will be an estimated 3.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr215.60 (0.23%) than the support at kr213.90 (0.56%), 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 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: -4.863 Sell Candidate Downgraded
Predicted Opening Price for Swedbank AB (publ) of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| kr216.07 ( 0.449%) | kr215.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SWED-A.ST
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 219.77 | 2.17% |
| R2 | 218.35 | 1.51% |
| R1 | 217.48 | 1.11% |
| Price | 215.10 | |
| S1 | 214.65 | -0.208% |
| S2 | 213.78 | -0.614% |
| S3 | 212.37 | -1.27% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 232.40 | 8.04% |
| R2 | 217.40 | 1.07% |
| R1 | 215.60 | 0.232% |
| Price | 215.10 | |
| S1 | 213.90 | -0.558% |
| S2 | 210.30 | -2.23% |
| S3 | 208.00 | -3.30% |
SWED-A Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 27, 2024 | Mar 27, 2024 | Apr 04, 2024 | kr15.15 | 7.07% |
| 2 | Mar 31, 2023 | Mar 31, 2023 | Mar 31, 2023 | kr9.75 | 5.73% |
| 3 | Mar 31, 2022 | Mar 31, 2022 | Mar 31, 2022 | kr2.00 | 1.42% |
| 4 | Oct 29, 2021 | Oct 29, 2021 | Oct 29, 2021 | kr7.30 | 3.92% |
| 5 | Mar 26, 2021 | Mar 26, 2021 | Mar 26, 2021 | kr2.90 | 1.88% |
FAQ
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