Topdanmark A/S Stock Forecast
Red day on Tuesday for Topdanmark A/S stock after losing 1.49%
(Updated on May 28, 2024)
The Topdanmark A/S stock price fell by -1.49% on the last day (Tuesday, 28th May 2024) from kr295.60 to kr291.20. During the last trading day the stock fluctuated 1.85% from a day low at kr291.20 to a day high of kr296.60. The price has fallen in 7 of the last 10 days and is down by -5.02% for this period. Volume has increased on the last day by 45 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 76 thousand shares were bought and sold for approximately kr22.08 million.
The stock is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at kr287.95 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Topdanmark A/S stock with a 90% probability to be traded between kr284.52 and kr307.58 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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TOP.CO Signals & Forecast
There are few to no technical positive signals at the moment. The Topdanmark A/S stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at kr296.23 and kr298.47. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 13, 2024, and so far it has fallen -5.02%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
A buy signal from a double bottom formation was found on Wednesday, May 01, 2024 and based on theory for this formation the price should go up by 14.75% to kr334.14 within 13 trading days since signal was issued (Wednesday, May 29, 2024).
Support, Risk & Stop-loss for Topdanmark A/S stock
Topdanmark A/S finds support from accumulated volume at kr290.80 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 kr5.40 between high and low, or 1.85%. For the last week the stock has had daily average volatility of 1.75%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TOP.CO) For The Upcoming Trading Day Of Wednesday 29th
For the upcoming trading day on Wednesday, 29th we expect Topdanmark A/S to open at kr293.00, and during the day (based on 14 day Average True Range), to move between kr286.07 and kr296.33, which gives a possible trading interval of +/-kr5.13 (+/-1.76%) up or down from last closing price. If Topdanmark A/S takes out the full calculated possible swing range there will be an estimated 3.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr290.80 (0.14%) than the resistance at kr294.40 (1.10%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Topdanmark A/S stock A Buy?
Topdanmark A/S holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.823 Sell Candidate Unchanged
Predicted Opening Price for Topdanmark A/S of Wednesday, May 29, 2024
| Fair opening price May 29, 2024 | Current price |
|---|---|
| kr293.00 ( 0.618%) | kr291.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TOP.CO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 298.40 | 2.47 % | |
| R2 | 296.34 | 1.76 % | ||
| R1 | 295.06 | 1.33 % | ||
| Current price: | 291.20 | |||
| Support | S1 | 290.94 | -0.0902 % | |
| S2 | 289.66 | -0.528 % | ||
| S3 | 287.60 | -1.24 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 304.60 | 4.60 % | |
| R2 | 295.00 | 1.30 % | ||
| R1 | 294.40 | 1.10 % | ||
| Current price | 291.20 | |||
| Support | S1 | 290.80 | -0.137% | |
| S2 | 290.40 | -0.275% | ||
| S3 | 290.20 | -0.343% |
TOP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 24, 2024 | Apr 24, 2024 | Apr 24, 2024 | kr0 | 0% |
| 2 | Apr 27, 2023 | Apr 27, 2023 | Apr 27, 2023 | kr20.00 | 5.62% |
| 3 | Mar 25, 2022 | Mar 25, 2022 | Mar 25, 2022 | kr11.00 | 2.92% |
| 4 | Mar 26, 2021 | Mar 26, 2021 | Mar 26, 2021 | kr11.50 | 3.96% |
| 5 | Apr 03, 2020 | Apr 03, 2020 | Apr 03, 2020 | kr8.50 | 3.05% |
FAQ
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