Arion banka hf. Stock Forecast
Weaker technical forecast for Arion banka hf. as stock downgraded to Sell Candidate.
(Updated on May 15, 2024)
The Arion banka hf. stock price fell by -0.465% on the last day (Wednesday, 15th May 2024) from kr10.75 to kr10.70. During the last trading day the stock fluctuated 3.30% from a day low at kr10.60 to a day high of kr10.95. The price has fallen in 5 of the last 10 days and is down by -2.73% for this period. Volume has increased on the last day by 10 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 24 thousand shares were bought and sold for approximately kr257.35 thousand.
The stock lies in the middle of a 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 -8.52% during the next 3 months and, with a 90% probability hold a price between kr9.65 and kr10.31 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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ARION-SDB.ST Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, May 10, 2024, and so far it has risen 0.94%. 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 Arion banka hf. 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 kr10.76 and kr10.94. 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). Arion banka hf. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Arion banka hf. stock
Arion banka hf. finds support from accumulated volume at kr10.65 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 kr0.350 between high and low, or 3.30%. For the last week the stock has had daily average volatility of 3.58%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ARION-SDB.ST) For The Upcoming Trading Day Of Thursday 16th
For the upcoming trading day on Thursday, 16th we expect Arion banka hf. to open at kr10.75, and during the day (based on 14 day Average True Range), to move between kr10.28 and kr11.12, which gives a possible trading interval of +/-kr0.418 (+/-3.91%) up or down from last closing price. If Arion banka hf. takes out the full calculated possible swing range there will be an estimated 7.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr10.65 (0.47%) than the resistance at kr10.90 (1.87%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Arion banka hf. stock A Buy?
Arion banka hf. holds several negative signals and is within a falling trend, so we believe 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: -1.423 Sell Candidate Downgraded
Predicted Opening Price for Arion banka hf. of Thursday, May 16, 2024
| Fair opening price May 16, 2024 | Current price |
|---|---|
| kr10.75 ( 0.467%) | kr10.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ARION-SDB.ST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.10 | 3.74 % | |
| R2 | 10.97 | 2.49 % | ||
| R1 | 10.88 | 1.72 % | ||
| Current price: | 10.70 | |||
| Support | S1 | 10.62 | -0.782 % | |
| S2 | 10.53 | -1.55 % | ||
| S3 | 10.40 | -2.80 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.00 | 2.80 % | |
| R2 | 10.95 | 2.34 % | ||
| R1 | 10.90 | 1.87 % | ||
| Current price | 10.70 | |||
| Support | S1 | 10.65 | -0.467% | |
| S2 | 10.60 | -0.93% | ||
| S3 | 0 | . |
ARION-SDB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 14, 2024 | Mar 14, 2024 | Mar 20, 2024 | kr0.682 | 6.23% |
| 2 | Mar 16, 2023 | Mar 16, 2023 | Mar 23, 2023 | kr0.634 | 6.25% |
| 3 | Mar 17, 2022 | Mar 17, 2022 | Mar 17, 2022 | kr1.09 | 8.35% |
| 4 | Mar 17, 2021 | Mar 17, 2021 | Mar 24, 2021 | kr0.117 | 1.50% |
| 5 | Mar 21, 2019 | Mar 21, 2019 | Mar 21, 2019 | kr5.00 | 86.96% |
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