Thule Group AB (publ) Stock Forecast
Thule Group AB (publ) stock upgraded from Strong Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 03, 2024)
The Thule Group AB (publ) stock price gained 2.47% on the last trading day (Friday, 3rd May 2024), rising from kr300.00 to kr307.40. During the last trading day the stock fluctuated 4.12% from a day low at kr301.00 to a day high of kr313.40. The price has risen in 6 of the last 10 days and is up by 2.74% over the past 2 weeks. Volume fell on the last day by -326 thousand shares and in total, 108 thousand shares were bought and sold for approximately kr33.24 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and 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 11.24% during the next 3 months and, with a 90% probability hold a price between kr320.46 and kr373.17 at the end of this 3-month period.
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THULE.ST Signals & Forecast
The Thule Group 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 kr305.03 and kr305.73. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 Thursday, March 28, 2024, and so far it has fallen -4.74%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Thule Group AB (publ) stock
Thule Group AB (publ) finds support from accumulated volume at kr300.00 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 kr12.40 between high and low, or 4.12%. For the last week the stock has had daily average volatility of 4.73%.
Our recommended stop-loss: kr295.95 (-3.72%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 23 days ago.)
Trading Expectations (THULE.ST) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Thule Group AB (publ) to open at kr307.27, and during the day (based on 14 day Average True Range), to move between kr297.52 and kr317.28, which gives a possible trading interval of +/-kr9.88 (+/-3.21%) up or down from last closing price. If Thule Group AB (publ) takes out the full calculated possible swing range there will be an estimated 6.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr314.00 (2.15%) than the support at kr300.00 (2.41%), 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 Thule Group AB (publ) stock A Buy?
Thule Group 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Hold/Accumulate candidate.
Current score: 0.484 Hold/Accumulate Upgraded
Predicted Opening Price for Thule Group AB (publ) of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| kr307.27 ( 0.0434%) | kr307.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for THULE.ST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 319.67 | 3.99 % | |
| R2 | 314.93 | 2.45 % | ||
| R1 | 312.00 | 1.50 % | ||
| Current price: | 307.40 | |||
| Support | S1 | 302.53 | -1.58 % | |
| S2 | 299.60 | -2.54 % | ||
| S3 | 294.87 | -4.08 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 318.80 | 3.71 % | |
| R2 | 315.90 | 2.77 % | ||
| R1 | 314.00 | 2.15 % | ||
| Current price | 307.40 | |||
| Support | S1 | 300.00 | -2.41% | |
| S2 | 291.20 | -5.27% | ||
| S3 | 272.60 | -11.32% |
THULE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 28, 2023 | Apr 28, 2023 | Apr 28, 2023 | kr4.60 | 1.56% |
| 2 | Oct 05, 2022 | Oct 05, 2022 | Oct 05, 2022 | kr6.50 | 3.02% |
| 3 | Apr 27, 2022 | Apr 27, 2022 | Apr 27, 2022 | kr6.50 | 2.03% |
| 4 | Oct 01, 2021 | Oct 01, 2021 | Oct 01, 2021 | kr4.00 | 0.93% |
| 5 | Apr 23, 2021 | Apr 23, 2021 | Apr 23, 2021 | kr7.50 | 1.89% |
FAQ
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