Suominen Oyj Stock Forecast
Red day on Wednesday for Suominen Oyj stock after losing 0.370%
(Updated on Apr 24, 2024)
The Suominen Oyj stock price fell by -0.370% on the last day (Wednesday, 24th Apr 2024) from 2.70€ to 2.69€. During the last trading day the stock fluctuated 3.85% from a day low at 2.60€ to a day high of 2.70€. The price has fallen in 5 of the last 10 days and is down by -0.37% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -3 thousand shares and in total, 2 thousand shares were bought and sold for approximately 5.12€ thousand.
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 2.65€ will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Suominen Oyj stock with a 90% probability to be traded between 2.68€ and 2.91€ 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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SUY1V.HE Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 1.51%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Suominen Oyj 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 2.70€ and 2.74€. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Suominen Oyj stock
Suominen Oyj finds support from accumulated volume at 2.67€ 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved 0.100€ between high and low, or 3.85%. For the last week the stock has had daily average volatility of 4.09%
Our recommended stop-loss: 2.54€ (-5.72%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (SUY1V.HE) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Suominen Oyj to open at 2.66€, and during the day (based on 14 day Average True Range), to move between 2.61€ and 2.77€, which gives a possible trading interval of +/-0.0843€ (+/-3.13%) up or down from last closing price. If Suominen Oyj takes out the full calculated possible swing range there will be an estimated 6.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 2.70€ (0.37%) than the support at 2.67€ (0.74%), 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 Suominen Oyj stock A Buy?
Suominen Oyj holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.028 Hold/Accumulate Unchanged
Predicted Opening Price for Suominen Oyj of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| 2.66€ ( 0.99%) | 2.69€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SUY1V.HE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.76 | 2.73 % | |
| R2 | 2.73 | 1.31 % | ||
| R1 | 2.70 | 0.429 % | ||
| Current price: | 2.69 | |||
| Support | S1 | 2.63 | -2.41 % | |
| S2 | 2.60 | -3.29 % | ||
| S3 | 2.56 | -4.71 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.72 | 1.12 % | |
| R2 | 2.71 | 0.743 % | ||
| R1 | 2.70 | 0.372 % | ||
| Current price | 2.69 | |||
| Support | S1 | 2.67 | -0.743% | |
| S2 | 2.65 | -1.49% | ||
| S3 | 2.63 | -2.23% |
SUY1V Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 05, 2024 | Apr 05, 2024 | Apr 05, 2024 | 0€ | 0% |
| 2 | Apr 04, 2023 | Apr 04, 2023 | Apr 04, 2023 | 0.100€ | 3.33% |
| 3 | Mar 25, 2022 | Mar 25, 2022 | Mar 25, 2022 | 0.200€ | 5.80% |
| 4 | Mar 26, 2021 | Mar 26, 2021 | Mar 26, 2021 | 0.200€ | 3.46% |
| 5 | Mar 20, 2020 | Mar 20, 2020 | Mar 20, 2020 | 0.0500€ | 2.38% |
FAQ
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