Costamare Inc Stock Forecast
Costamare Inc stock price ended at $10.68 on Thursday, after losing 1.39%.
(Updated on Apr 18, 2024)
The Costamare Inc stock price fell by -1.39% on the last day (Thursday, 18th Apr 2024) from $10.83 to $10.68. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.83% from a day low at $10.64 to a day high of $10.84. The price has fallen in 7 of the last 10 days and is down by -6.4% for this period. Volume has increased on the last day by 32 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, 271 thousand shares were bought and sold for approximately $2.89 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $10.62 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 3.59% during the next 3 months and, with a 90% probability hold a price between $11.00 and $12.31 at the end of this 3-month period.
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CMRE Signals & Forecast
There are few to no technical positive signals at the moment. The Costamare Inc 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 $11.02 and $11.24. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -7.53%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
A sell signal from a double top formation was found on Tuesday, February 27, 2024 and based on theory for this formation the price should fall by -3.93% to $10.26 within 10 trading days since signal was issued (Friday, April 19, 2024).
Support, Risk & Stop-loss for Costamare Inc stock
Costamare Inc finds support from accumulated volume at $10.52 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 $0.195 between high and low, or 1.83%. For the last week the stock has had daily average volatility of 2.57%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CMRE) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Costamare Inc to open at $10.72, and during the day (based on 14 day Average True Range), to move between $10.40 and $10.96, which gives a possible trading interval of +/-$0.282 (+/-2.64%) up or down from last closing price. If Costamare Inc takes out the full calculated possible swing range there will be an estimated 5.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $10.52 (1.50%) than the resistance at $10.97 (2.72%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Costamare Inc stock A Buy?
The Costamare Inc stock holds several negative signals and despite the positive trend, we believe Costamare Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.233 Sell Candidate Unchanged
Predicted Opening Price for Costamare Inc of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $10.72 ( 0.359%) | $10.68 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CMRE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.91 | 2.18 % | |
| R2 | 10.84 | 1.49 % | ||
| R1 | 10.79 | 1.06 % | ||
| Current price: | 10.68 | |||
| Support | S1 | 10.64 | -0.339 % | |
| S2 | 10.60 | -0.769 % | ||
| S3 | 10.52 | -1.47 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.39 | 6.65 % | |
| R2 | 11.18 | 4.68 % | ||
| R1 | 10.97 | 2.72 % | ||
| Current price | 10.68 | |||
| Support | S1 | 10.52 | -1.50% | |
| S2 | 10.41 | -2.53% | ||
| S3 | 10.28 | -3.75% |
CMRE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 02, 2024 | Apr 18, 2024 | May 06, 2024 | $0.115 | 1.08% |
| 2 | Jan 02, 2024 | Jan 19, 2024 | Feb 07, 2024 | $0.115 | 1.05% |
| 3 | Oct 02, 2023 | Oct 19, 2023 | Nov 06, 2023 | $0.120 | 1.32% |
| 4 | Jul 03, 2023 | Jul 19, 2023 | Aug 07, 2023 | $0.115 | 1.00% |
| 5 | Apr 03, 2023 | Apr 18, 2023 | May 05, 2023 | $0.115 | 1.37% |
FAQ
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