Veidekke ASA Stock Forecast
Veidekke ASA stock downgraded from Hold/Accumulate to Sell Candidate after Monday trading session.
(Updated on Jun 17, 2024)
The Veidekke ASA stock price gained 0.531% on the last trading day (Monday, 17th Jun 2024), rising from kr113.00 to kr113.60. During the last trading day the stock fluctuated 1.61% from a day low at kr112.00 to a day high of kr113.80. The price has fallen in 5 of the last 10 days and is down by -0.35% for this period. Volume fell on the last day by -20 thousand shares and in total, 36 thousand shares were bought and sold for approximately kr4.06 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 is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Veidekke ASA stock with a 90% probability to be traded between kr109.19 and kr116.25 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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VEI.OL Signals & Forecast
There are mixed signals in the stock today. The Veidekke ASA stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at kr114.58. On a fall, the stock will find some support from the short-term average at kr112.83. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Thursday, June 13, 2024, and so far it has risen 2.53%. Further rise is indicated until a new top pivot has been found. 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.
A sell signal from a double top formation was found on Monday, May 13, 2024 and based on theory for this formation the price should fall by -3.11% to kr110.07 within 3 trading days since signal was issued (Tuesday, June 18, 2024).
Support, Risk & Stop-loss for Veidekke ASA stock
Veidekke ASA finds support from accumulated volume at kr113.20 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 kr1.80 between high and low, or 1.61%. For the last week the stock has had daily average volatility of 1.87%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (VEI.OL) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Veidekke ASA to open at kr113.13, and during the day (based on 14 day Average True Range), to move between kr111.50 and kr115.70, which gives a possible trading interval of +/-kr2.10 (+/-1.85%) up or down from last closing price. If Veidekke ASA takes out the full calculated possible swing range there will be an estimated 3.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr113.20 (0.35%) than the resistance at kr115.00 (1.23%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Veidekke ASA stock A Buy?
Veidekke ASA holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.993 Sell Candidate Downgraded
Predicted Opening Price for Veidekke ASA of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| kr113.13 ( 0.411%) | kr113.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VEI.OL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 114.93 | 1.17% |
| R2 | 114.25 | 0.568% |
| R1 | 113.82 | 0.194% |
| Price | 113.60 | |
| S1 | 112.45 | -1.02% |
| S2 | 112.02 | -1.39% |
| S3 | 111.33 | -2.00% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 116.00 | 2.11% |
| R2 | 115.20 | 1.41% |
| R1 | 115.00 | 1.23% |
| Price | 113.60 | |
| S1 | 113.20 | -0.352% |
| S2 | 112.40 | -1.06% |
| S3 | 111.80 | -1.58% |
VEI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 08, 2024 | May 08, 2024 | May 22, 2024 | kr7.90 | 6.81% |
| 2 | May 11, 2023 | May 11, 2023 | May 11, 2023 | kr7.75 | 7.34% |
| 3 | May 12, 2022 | May 12, 2022 | May 12, 2022 | kr7.00 | 6.73% |
| 4 | May 06, 2021 | May 06, 2021 | May 06, 2021 | kr5.75 | 4.78% |
| 5 | Dec 04, 2020 | Dec 04, 2020 | Dec 04, 2020 | kr22.50 | 19.91% |
FAQ
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