Dampskibsselskabet Norden A/S Stock Forecast
Weaker technical forecast for Dampskibsselskabet Norden A/S as stock downgraded to Sell Candidate.
(Updated on Apr 19, 2024)
The Dampskibsselskabet Norden A/S stock price gained 0.769% on the last trading day (Friday, 19th Apr 2024), rising from kr286.00 to kr288.20. During the last trading day the stock fluctuated 2.49% from a day low at kr281.20 to a day high of kr288.20. The price has been going up and down for this period, and there has been a 0.42% gain for the last 2 weeks. Volume fell on the last day by -11 thousand shares and in total, 56 thousand shares were bought and sold for approximately kr16.07 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 kr291.37 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 -24.91% during the next 3 months and, with a 90% probability hold a price between kr184.64 and kr218.79 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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DNORD.CO Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, March 20, 2024, and so far it has risen 4.42%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Dampskibsselskabet Norden A/S stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at kr289.69 and kr289.17. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for Dampskibsselskabet Norden A/S stock
Dampskibsselskabet Norden A/S finds support from accumulated volume at kr281.80 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved kr7.00 (2.49%) between high and low. For the last week, the stock has had daily average volatility of 2.49%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DNORD.CO) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Dampskibsselskabet Norden A/S to open at kr285.87, and during the day (based on 14 day Average True Range), to move between kr280.21 and kr296.19, which gives a possible trading interval of +/-kr7.99 (+/-2.77%) up or down from last closing price. If Dampskibsselskabet Norden A/S takes out the full calculated possible swing range there will be an estimated 5.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr288.40 (0.07%) than the support at kr281.80 (2.22%), 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.
Earnings coming up
Dampskibsselskabet Norden A/S will release earnings BMO on Thursday, April 25, 2024. We will update the financials statements for Dampskibsselskabet Norden A/S, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.83% in the first trading day after earnings release.
Is Dampskibsselskabet Norden A/S stock A Buy?
Dampskibsselskabet Norden A/S holds several negative signals and is within a wide and 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: -1.983 Sell Candidate Downgraded
Predicted Opening Price for Dampskibsselskabet Norden A/S of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| kr285.87 ( 0.81%) | kr288.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DNORD.CO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 292.87 | 1.62 % | |
| R2 | 290.19 | 0.691 % | ||
| R1 | 288.54 | 0.118 % | ||
| Current price: | 288.20 | |||
| Support | S1 | 283.19 | -1.74 % | |
| S2 | 281.54 | -2.31 % | ||
| S3 | 278.87 | -3.24 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 328.80 | 14.09 % | |
| R2 | 290.00 | 0.625 % | ||
| R1 | 288.40 | 0.0694 % | ||
| Current price | 288.20 | |||
| Support | S1 | 281.80 | -2.22% | |
| S2 | 281.60 | -2.29% | ||
| S3 | 277.00 | -3.89% |
DNORD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 13, 2024 | Mar 13, 2024 | Mar 13, 2024 | kr0 | 0% |
| 2 | Nov 03, 2023 | Nov 03, 2023 | Nov 03, 2023 | kr10.00 | 2.99% |
| 3 | Aug 11, 2023 | Aug 11, 2023 | Aug 11, 2023 | kr10.00 | 3.17% |
| 4 | May 04, 2023 | May 04, 2023 | May 04, 2023 | kr15.00 | 4.03% |
| 5 | Mar 10, 2023 | Mar 10, 2023 | Mar 10, 2023 | kr30.00 | 6.46% |
FAQ
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