Tele2 AB (publ) Stock Forecast
Red day on Tuesday for Tele2 AB (publ)
(Updated on Jul 02, 2024)
The Tele2 AB (publ) stock price fell by -1.41% on the last day (Tuesday, 2nd Jul 2024) from kr106.60 to kr105.10. During the last trading day the stock fluctuated 1.52% from a day low at kr105.10 to a day high of kr106.70. The price has been going up and down for this period, and there has been a 0.72% gain 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 -27 thousand shares and in total, 678 thousand shares were bought and sold for approximately kr71.31 million.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 13.07% during the next 3 months and, with a 90% probability hold a price between kr115.35 and kr122.41 at the end of this 3-month period.
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TEL2-B.ST Signals & Forecast
The Tele2 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 kr106.05. On a fall, the stock will find some support from the long-term average at approximately kr103.79. 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. 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. A sell signal was issued from a pivot top point on Friday, June 28, 2024, and so far it has fallen -1.50%. Further fall is indicated until a new bottom pivot has been found. 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 Tele2 AB (publ) stock
Tele2 AB (publ) finds support from accumulated volume at kr102.30 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 kr1.60 between high and low, or 1.52%. For the last week the stock has had daily average volatility of 1.27%.
Our recommended stop-loss: kr100.79 (-4.10%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (TEL2-B.ST) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Tele2 AB (publ) to open at kr105.63, and during the day (based on 14 day Average True Range), to move between kr103.54 and kr106.66, which gives a possible trading interval of +/-kr1.56 (+/-1.48%) up or down from last closing price. If Tele2 AB (publ) takes out the full calculated possible swing range there will be an estimated 2.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr105.70 (0.57%) than the support at kr102.30 (2.66%), 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 Tele2 AB (publ) stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Tele2 AB (publ) stock to perform well in the short-term.
Current score: 2.916 Buy Candidate Unchanged
Predicted Opening Price for Tele2 AB (publ) of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| kr105.63 ( 0.507%) | kr105.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TEL2-B.ST
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 107.23 | 2.03% |
| R2 | 106.62 | 1.45% |
| R1 | 106.24 | 1.09% |
| Price | 105.10 | |
| S1 | 105.02 | -0.0741% |
| S2 | 104.64 | -0.433% |
| S3 | 104.03 | -1.01% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 106.70 | 1.52% |
| R2 | 106.00 | 0.86% |
| R1 | 105.70 | 0.571% |
| Price | 105.10 | |
| S1 | 102.30 | -2.66% |
| S2 | 101.55 | -3.38% |
| S3 | 98.82 | -5.98% |
TEL2-B Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 14, 2024 | Oct 14, 2024 | Oct 18, 2024 | kr3.45 | 3.27% |
| 2 | May 16, 2024 | May 16, 2024 | May 22, 2024 | kr3.45 | 3.39% |
| 3 | Oct 09, 2023 | Oct 09, 2023 | Oct 13, 2023 | kr3.40 | 3.98% |
| 4 | May 16, 2023 | May 16, 2023 | May 16, 2023 | kr3.40 | 3.34% |
| 5 | Oct 10, 2022 | Oct 10, 2022 | Oct 10, 2022 | kr3.35 | 3.72% |
FAQ
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