Tele2 AB (publ) Stock Forecast
Tele2 AB (publ) stock price ended at kr104.00 on Wednesday, after gaining 0.0481%.
(Updated on Jun 05, 2024)
The Tele2 AB (publ) stock price gained 0.0481% on the last trading day (Wednesday, 5th Jun 2024), rising from kr103.95 to kr104.00. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.54% from a day low at kr104.00 to a day high of kr105.60. The price has risen in 7 of the last 10 days and is up by 2.21% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 904 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately kr211.55 million.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at kr102.21 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 24.77% during the next 3 months and, with a 90% probability hold a price between kr127.53 and kr139.04 at the end of this 3-month period.
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TEL2-B.ST Signals & Forecast
The Tele2 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 kr102.59 and kr102.20. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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 Wednesday, May 15, 2024, and so far it has fallen -1.89%. 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).
Support, Risk & Stop-loss for Tele2 AB (publ) stock
Tele2 AB (publ) finds support from accumulated volume at kr101.55 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 1.54%. For the last week the stock has had daily average volatility of 1.54%.
Our recommended stop-loss: kr100.13 (-3.72%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (TEL2-B.ST) For The Upcoming Trading Day Of Friday 7th
For the upcoming trading day on Friday, 7th we expect Tele2 AB (publ) to open at kr104.53, and during the day (based on 14 day Average True Range), to move between kr102.35 and kr105.65, which gives a possible trading interval of +/-kr1.65 (+/-1.58%) up or down from last closing price. If Tele2 AB (publ) takes out the full calculated possible swing range there will be an estimated 3.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr104.10 (0.10%) than the support at kr101.55 (2.36%), 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: 1.967 Buy Candidate Unchanged
Predicted Opening Price for Tele2 AB (publ) of Friday, June 7, 2024
| Fair opening price June 7, 2024 | Current price |
|---|---|
| kr104.53 ( 0.513%) | kr104.00 |
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 | 106.13 | 2.05% |
| R2 | 105.52 | 1.46% |
| R1 | 105.14 | 1.10% |
| Price | 104.00 | |
| S1 | 103.92 | -0.0749% |
| S2 | 103.54 | -0.438% |
| S3 | 102.93 | -1.03% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 106.00 | 1.92% |
| R2 | 105.70 | 1.63% |
| R1 | 104.10 | 0.0962% |
| Price | 104.00 | |
| S1 | 101.55 | -2.36% |
| S2 | 98.82 | -4.98% |
| S3 | 86.98 | -16.37% |
TEL2-B Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 14, 2024 | Oct 14, 2024 | Oct 18, 2024 | kr3.45 | 3.30% |
| 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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