Swedbank AB (publ) Stock Forecast
Swedbank AB (publ) stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Jun 28, 2024)
The Swedbank AB (publ) stock price gained 0.739% on the last trading day (Friday, 28th Jun 2024), rising from kr216.50 to kr218.10. During the last trading day the stock fluctuated 0.97% from a day low at kr217.30 to a day high of kr219.40. The price has been going up and down for this period, and there has been a 1.16% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 282 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately kr382.47 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 kr209.63 and kr224.19 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
Mostly positive signals in the chart today. The Swedbank AB (publ) stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at kr215.47 and kr216.42. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has risen 3.12%. 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 Swedbank AB (publ) stock
Swedbank AB (publ) finds support from accumulated volume at kr215.60 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 kr2.10 between high and low, or 0.97%. For the last week the stock has had daily average volatility of 1.79%.
Our recommended stop-loss: kr206.47 (-5.33%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 32 days ago.)
Trading Expectations (SWED-A.ST) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Swedbank AB (publ) to open at kr218.27, and during the day (based on 14 day Average True Range), to move between kr214.11 and kr222.09, which gives a possible trading interval of +/-kr3.99 (+/-1.83%) up or down from last closing price. If Swedbank AB (publ) takes out the full calculated possible swing range there will be an estimated 3.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr218.40 (0.14%) than the support at kr215.60 (1.15%), 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?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Swedbank AB (publ) stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.291 Buy Candidate Upgraded
Predicted Opening Price for Swedbank AB (publ) of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| kr218.27 ( 0.0764%) | kr218.10 |
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 | 220.37 | 1.04% |
| R2 | 219.56 | 0.671% |
| R1 | 219.07 | 0.444% |
| Price | 218.10 | |
| S1 | 217.46 | -0.291% |
| S2 | 216.97 | -0.519% |
| S3 | 216.17 | -0.89% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 222.30 | 1.93% |
| R2 | 221.30 | 1.47% |
| R1 | 218.40 | 0.138% |
| Price | 218.10 | |
| S1 | 215.60 | -1.15% |
| S2 | 213.90 | -1.93% |
| S3 | 208.00 | -4.63% |
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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