Star Bulk Carriers Stock Forecast
Weaker technical forecast for Star Bulk Carriers as stock downgraded to Sell Candidate.
(Updated on Apr 17, 2024)
The Star Bulk Carriers stock price gained 0.348% on the last trading day (Wednesday, 17th Apr 2024), rising from $23.02 to $23.10. During the last trading day the stock fluctuated 1.71% from a day low at $23.07 to a day high of $23.46. The price has fallen in 6 of the last 10 days and is down by -3.91% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 139 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $32.86 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $23.06 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 11.57% during the next 3 months and, with a 90% probability hold a price between $25.73 and $29.08 at the end of this 3-month period.
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SBLK Signals & Forecast
Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Star Bulk Carriers 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 $23.34 and $23.92. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 08, 2024, and so far it has fallen -7.19%. 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).
Support, Risk & Stop-loss for Star Bulk Carriers stock
Star Bulk Carriers finds support from accumulated volume at $23.01 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 $0.395 between high and low, or 1.71%. For the last week the stock has had daily average volatility of 2.25%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SBLK) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Star Bulk Carriers Corp. to open at $23.21, and during the day (based on 14 day Average True Range), to move between $22.51 and $23.69, which gives a possible trading interval of +/-$0.588 (+/-2.55%) up or down from last closing price. If Star Bulk Carriers Corp. takes out the full calculated possible swing range there will be an estimated 5.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $23.01 (0.39%) than the resistance at $23.85 (3.25%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Star Bulk Carriers Corp. stock A Buy?
The Star Bulk Carriers stock holds several negative signals and despite the positive trend, we believe Star Bulk Carriers will perform weakly in the next couple of days or weeks. Therefore, we 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: -4.008 Sell Candidate Downgraded
Predicted Opening Price for Star Bulk Carriers Corp. of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $23.21 ( 0.469%) | $23.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SBLK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.60 | 2.18 % | |
| R2 | 23.45 | 1.53 % | ||
| R1 | 23.36 | 1.12 % | ||
| Current price: | 23.10 | |||
| Support | S1 | 23.06 | -0.184 % | |
| S2 | 22.96 | -0.588 % | ||
| S3 | 22.81 | -1.24 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.67 | 6.80 % | |
| R2 | 23.89 | 3.42 % | ||
| R1 | 23.85 | 3.25 % | ||
| Current price | 23.10 | |||
| Support | S1 | 23.01 | -0.390% | |
| S2 | 21.86 | -5.37% | ||
| S3 | 21.61 | -6.45% |
SBLK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 12, 2024 | Mar 11, 2024 | Mar 28, 2024 | $0.450 | 1.89% |
| 2 | Nov 13, 2023 | Dec 04, 2023 | Dec 18, 2023 | $0.220 | 1.04% |
| 3 | Aug 03, 2023 | Aug 21, 2023 | Sep 07, 2023 | $0.400 | 2.30% |
| 4 | May 16, 2023 | Jun 06, 2023 | Jun 27, 2023 | $0.350 | 2.00% |
| 5 | Feb 16, 2023 | Feb 27, 2023 | Mar 14, 2023 | $0.600 | 2.67% |
FAQ
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