ICL Group Ltd Stock Forecast
Evaluation of ICL Group Ltd stock downgraded after the last trading session.
(Updated on May 24, 2024)
The ICL Group Ltd stock price fell by -0.409% on the last day (Friday, 24th May 2024) from $4.89 to $4.87. During the last trading day the stock fluctuated 2.36% from a day low at $4.87 to a day high of $4.99. The price has been going up and down for this period, and there has been a 2.1% gain for the last 2 weeks. 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 -537 thousand shares and in total, 334 thousand shares were bought and sold for approximately $1.63 million.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $4.91 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -12.09% during the next 3 months and, with a 90% probability hold a price between $3.76 and $4.31 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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ICL Signals & Forecast
The ICL Group Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $4.80 and $4.76. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -0.612%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. The stock had a Golden Star Signal on Wednesday, May 22, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Wednesday, May 22, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for ICL Group Ltd stock
ICL Group Ltd finds support from accumulated volume at $4.80 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 $0.115 between high and low, or 2.36%. For the last week the stock has had daily average volatility of 2.16%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ICL) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect ICL Group Ltd to open at $4.91, and during the day (based on 14 day Average True Range), to move between $4.76 and $4.98, which gives a possible trading interval of +/-$0.113 (+/-2.32%) up or down from last closing price. If ICL Group Ltd takes out the full calculated possible swing range there will be an estimated 4.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $4.89 (0.41%) than the support at $4.80 (1.44%), 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 ICL Group Ltd stock A Buy?
ICL Group Ltd 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: -1.764 Sell Candidate Downgraded
Predicted Opening Price for ICL Group Ltd of Tuesday, May 28, 2024
| Fair opening price May 28, 2024 | Current price |
|---|---|
| $4.91 ( 0.787%) | $4.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ICL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.02 | 3.15 % | |
| R2 | 4.98 | 2.25 % | ||
| R1 | 4.95 | 1.69 % | ||
| Current price: | 4.87 | |||
| Support | S1 | 4.86 | -0.115 % | |
| S2 | 4.84 | -0.672 % | ||
| S3 | 4.79 | -1.57 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.38 | 10.47 % | |
| R2 | 5.36 | 10.06 % | ||
| R1 | 4.89 | 0.411 % | ||
| Current price | 4.87 | |||
| Support | S1 | 4.80 | -1.44% | |
| S2 | 4.68 | -3.90% | ||
| S3 | 4.63 | -4.93% |
ICL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 06, 2024 | Jun 06, 2024 | Jun 20, 2024 | $0.0457 | 0.94% |
| 2 | Feb 29, 2024 | Mar 14, 2024 | Mar 26, 2024 | $0.0474 | 0.90% |
| 3 | Nov 08, 2023 | Dec 05, 2023 | Dec 20, 2023 | $0.0531 | 1.07% |
| 4 | Nov 08, 2023 | Dec 04, 2023 | Dec 20, 2023 | $0.0531 | 1.07% |
| 5 | Aug 09, 2023 | Aug 30, 2023 | Sep 13, 2023 | $0.0630 | 1.09% |
FAQ
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