Eimskipafelag Islands hf. Stock Forecast
Eimskipafelag Islands hf. stock downgraded from Hold/Accumulate to Sell Candidate after Monday trading session.
(Updated on Mar 18, 2024)
No changes to the price of Eimskipafelag Islands hf. stock on the last trading day (Monday, 18th Mar 2024). During the last trading day the stock fluctuated 0% from a day low at 383.00 Íkr to a day high of 383.00 Íkr. The price has been going up and down for this period, and there has been a -1.03% loss for the last 2 weeks.
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 389.50 Íkr 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 -25.60% during the next 3 months and, with a 90% probability hold a price between 247.19 Íkr and 289.78 Íkr 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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EIM.IC Signals & Forecast
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. The Eimskipafelag Islands hf. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at 403.06 Íkr. On a fall, the stock will find some support from the short-term average at 379.29 Íkr. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Friday, March 15, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Eimskipafelag Islands hf. stock
Eimskipafelag Islands hf. finds support from accumulated volume at 373.00 Íkr 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved 0 Íkr between high and low, or 0%. For the last week the stock has had daily average volatility of 1.07%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EIM.IC) For The Upcoming Trading Day Of Tuesday 19th
For the upcoming trading day on Tuesday, 19th we expect Eimskipafelag Islands hf. to open at 383.00 Íkr, and during the day (based on 14 day Average True Range), to move between 374.50 Íkr and 391.50 Íkr, which gives a possible trading interval of +/-8.50 Íkr (+/-2.22%) up or down from last closing price. If Eimskipafelag Islands hf. takes out the full calculated possible swing range there will be an estimated 4.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 373.00 Íkr (2.61%) than the resistance at 400.00 Íkr (4.44%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Eimskipafelag Islands hf. stock A Buy?
Eimskipafelag Islands hf. 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: -3.300 Sell Candidate Downgraded
Predicted Opening Price for Eimskipafelag Islands hf. of Tuesday, March 19, 2024
Fair opening price March 19, 2024 | Current price |
---|---|
383.00 Íkr ( 0%) | 383.00 Íkr |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EIM.IC
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 383.00 | . | |
R2 | 383.00 | . | ||
R1 | 383.00 | . | ||
Current price: | 383.00 | |||
Support | S1 | 383.00 | . | |
S2 | 383.00 | . | ||
S3 | 383.00 | . |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 453.00 | 18.28 % | |
R2 | 425.00 | 10.97 % | ||
R1 | 400.00 | 4.44 % | ||
Current price | 383.00 | |||
Support | S1 | 373.00 | -2.61% | |
S2 | 372.00 | -2.87% | ||
S3 | 363.00 | -5.22% |
EIM Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 08, 2024 | Mar 08, 2024 | Mar 08, 2024 | 0 Íkr | 0% |
2 | Mar 10, 2023 | Mar 10, 2023 | Mar 10, 2023 | 20.80 Íkr | 3.78% |
3 | Apr 25, 2022 | Apr 25, 2022 | Apr 25, 2022 | 6.14 Íkr | 1.10% |
4 | Mar 18, 2022 | Mar 18, 2022 | Mar 18, 2022 | 14.27 Íkr | 2.59% |
5 | Mar 26, 2021 | Mar 26, 2021 | Mar 26, 2021 | 2.47 Íkr | 0.89% |
FAQ
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