AB Volvo (publ) Stock Forecast
AB Volvo (publ) stock upgraded to Buy Candidate.
(Updated on May 17, 2024)
The AB Volvo (publ) stock price gained 0.106% on the last trading day (Friday, 17th May 2024), rising from kr283.90 to kr284.20. During the last trading day the stock fluctuated 1.06% from a day low at kr281.80 to a day high of kr284.80. The price has risen in 7 of the last 10 days and is up by 2.41% over the past 2 weeks. Volume fell on the last day by -211 thousand shares and in total, 2 million shares were bought and sold for approximately kr638.91 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 falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.23% during the next 3 months and, with a 90% probability hold a price between kr261.22 and kr302.01 at the end of this 3-month period.
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VOLV-B.ST Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, May 03, 2024, and so far it has risen 4.68%. Further rise is indicated until a new top pivot has been found. 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. The AB Volvo (publ) 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 kr286.23. On a fall, the stock will find some support from the short-term average at kr283.09. 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.
Support, Risk & Stop-loss for AB Volvo (publ) stock
AB Volvo (publ) finds support from accumulated volume at kr283.00 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 kr3.00 between high and low, or 1.06%. For the last week the stock has had daily average volatility of 1.15%.
Our recommended stop-loss: kr272.01 (-4.29%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (VOLV-B.ST) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect AB Volvo (publ) to open at kr283.60, and during the day (based on 14 day Average True Range), to move between kr278.80 and kr289.60, which gives a possible trading interval of +/-kr5.40 (+/-1.90%) up or down from last closing price. If AB Volvo (publ) takes out the full calculated possible swing range there will be an estimated 3.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr283.00 (0.42%) than the resistance at kr288.10 (1.37%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is AB Volvo (publ) stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.735 Buy Candidate Upgraded
Predicted Opening Price for AB Volvo (publ) of Monday, May 20, 2024
Fair opening price May 20, 2024 | Current price |
---|---|
kr283.60 ( 0.211%) | kr284.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VOLV-B.ST
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 286.60 | 0.84 % | |
R2 | 285.45 | 0.441 % | ||
R1 | 284.75 | 0.192 % | ||
Current price: | 284.20 | |||
Support | S1 | 282.45 | -0.614 % | |
S2 | 281.75 | -0.86 % | ||
S3 | 280.60 | -1.27 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 307.85 | 8.32 % | |
R2 | 290.10 | 2.08 % | ||
R1 | 288.10 | 1.37 % | ||
Current price | 284.20 | |||
Support | S1 | 283.00 | -0.422% | |
S2 | 282.60 | -0.563% | ||
S3 | 280.20 | -1.41% |
VOLV-B Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 28, 2024 | Mar 28, 2024 | Apr 05, 2024 | kr18.00 | 6.19% |
2 | Apr 05, 2023 | Apr 05, 2023 | Apr 05, 2023 | kr7.00 | 3.68% |
3 | Apr 07, 2022 | Apr 07, 2022 | Apr 07, 2022 | kr6.50 | 4.17% |
4 | Jun 30, 2021 | Jun 30, 2021 | Jun 30, 2021 | kr9.50 | 4.61% |
5 | Apr 01, 2021 | Apr 01, 2021 | Apr 01, 2021 | kr9.00 | 4.28% |
FAQ
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