Grieg Seafood ASA Stock Forecast
Grieg Seafood ASA stock price down 1.10% on Monday
(Updated on Jun 17, 2024)
The Grieg Seafood ASA stock price fell by -1.10% on the last day (Monday, 17th Jun 2024) from kr73.00 to kr72.20. During the last trading day the stock fluctuated 3.64% from a day low at kr71.35 to a day high of kr73.95. The price has fallen in 6 of the last 10 days and is down by -0.28% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -196 thousand shares and in total, 300 thousand shares were bought and sold for approximately kr21.65 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 6.86% during the next 3 months and, with a 90% probability hold a price between kr71.71 and kr83.87 at the end of this 3-month period.
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GSF.OL Signals & Forecast
The Grieg Seafood ASA stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at kr71.26 and kr71.71. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen -5.99%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Grieg Seafood ASA stock
Grieg Seafood ASA finds support from accumulated volume at kr71.80 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 kr2.60 between high and low, or 3.64%. For the last week, the stock has had daily average volatility of 3.49%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GSF.OL) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Grieg Seafood ASA to open at kr72.50, and during the day (based on 14 day Average True Range), to move between kr69.74 and kr74.66, which gives a possible trading interval of +/-kr2.46 (+/-3.41%) up or down from last closing price. If Grieg Seafood ASA takes out the full calculated possible swing range there will be an estimated 6.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr71.80 (0.55%) than the resistance at kr72.70 (0.69%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Grieg Seafood ASA stock A Buy?
Grieg Seafood ASA 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.
Current score: -1.373 Sell Candidate Unchanged
Predicted Opening Price for Grieg Seafood ASA of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| kr72.50 ( 0.416%) | kr72.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GSF.OL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 75.10 | 4.02% |
| R2 | 74.11 | 2.64% |
| R1 | 73.49 | 1.79% |
| Price | 72.20 | |
| S1 | 71.51 | -0.96% |
| S2 | 70.89 | -1.81% |
| S3 | 69.90 | -3.19% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 76.80 | 6.37% |
| R2 | 74.75 | 3.53% |
| R1 | 72.70 | 0.693% |
| Price | 72.20 | |
| S1 | 71.80 | -0.554% |
| S2 | 71.55 | -0.90% |
| S3 | 71.10 | -1.52% |
GSF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 20, 2024 | Jun 20, 2024 | Jun 27, 2024 | kr1.75 | 2.42% |
| 2 | Jun 28, 2023 | Jun 28, 2023 | Jun 28, 2023 | kr4.50 | 6.68% |
| 3 | Jun 09, 2023 | Jun 09, 2023 | Jun 09, 2023 | kr4.50 | 5.58% |
| 4 | Jun 10, 2022 | Jun 10, 2022 | Jun 10, 2022 | kr3.00 | 2.22% |
| 5 | Nov 07, 2019 | Nov 25, 2019 | Dec 04, 2019 | kr2.00 | 1.42% |
FAQ
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