Costamare Inc Stock Forecast
Green day on Wednesday for Costamare Inc
(Updated on May 01, 2024)
The Costamare Inc stock price gained 2.50% on the last trading day (Wednesday, 1st May 2024), rising from $11.98 to $12.28. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.44% from a day low at $11.92 to a day high of $12.33. The price has risen in 8 of the last 10 days and is up by 13.39% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 37 thousand more shares were traded than the day before. In total, 513 thousand shares were bought and sold for approximately $6.31 million.
The stock has broken the wide and weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $12.03, a level that may pose a second chance to hit a runner. According to fan-theory $13.31 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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CMRE Signals & Forecast
The Costamare Inc 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 $11.77 and $11.31. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 14.98%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Costamare Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $11.39 and $11.36. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Costamare Inc finds support just below today's level at $11.39. If this is broken, then the next support from accumulated volume will be at $11.36 and $11.18.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.410 between high and low, or 3.44%. For the last week, the stock has had daily average volatility of 2.81%.
Our recommended stop-loss: $11.83 (-3.66%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (CMRE) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Costamare Inc to open at $12.18, and during the day (based on 14 day Average True Range), to move between $11.98 and $12.58, which gives a possible trading interval of +/-$0.305 (+/-2.48%) up or down from last closing price. If Costamare Inc takes out the full calculated possible swing range there will be an estimated 4.96% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $11.39, some $0.89 (7.25%) from the current price of $12.28, our system finds the risk reward attractive.
Is Costamare Inc stock A Buy?
Costamare Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Costamare Inc of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $12.18 ( 0.84%) | $12.28 |
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 | 12.59 | 2.50 % | |
| R2 | 12.43 | 1.22 % | ||
| R1 | 12.33 | 0.434 % | ||
| Current price: | 12.28 | |||
| Support | S1 | 12.02 | -2.12 % | |
| S2 | 11.92 | -2.90 % | ||
| S3 | 11.77 | -4.18 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 12.28 | |||
| Support | S1 | 11.39 | -7.25% | |
| S2 | 11.36 | -7.49% | ||
| S3 | 11.18 | -8.96% |
CMRE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 02, 2024 | Apr 18, 2024 | May 06, 2024 | $0.115 | 0.94% |
| 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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