Grieg Seafood ASA Stock Forecast
Red day on Wednesday for Grieg Seafood ASA stock after losing 0.622%
(Updated on Jun 26, 2024)
The Grieg Seafood ASA stock price fell by -0.622% on the last day (Wednesday, 26th Jun 2024) from kr64.30 to kr63.90. During the last trading day the stock fluctuated 3.53% from a day low at kr63.70 to a day high of kr65.95. The price has been going up and down for this period, and there has been a -8.06% loss for the last 2 weeks. 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 -115 thousand shares and in total, 324 thousand shares were bought and sold for approximately kr20.70 million.
Given the current horizontal trend, you can expect Grieg Seafood ASA stock with a 90% probability to be traded between kr65.18 and kr79.02 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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GSF.OL Signals & Forecast
There are few to no technical positive signals at the moment. The Grieg Seafood ASA 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 kr66.81 and kr71.14. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen -16.80%. 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
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 kr2.25 between high and low, or 3.53%. For the last week, the stock has had daily average volatility of 4.18%.
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 Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Grieg Seafood ASA to open at kr64.52, and during the day (based on 14 day Average True Range), to move between kr61.16 and kr66.64, which gives a possible trading interval of +/-kr2.74 (+/-4.28%) up or down from last closing price. If Grieg Seafood ASA takes out the full calculated possible swing range there will be an estimated 8.57% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ kr64.00, some kr0.100 (0.16%) from the current price of kr63.90, our system finds the risk reward not very attractive.
Is Grieg Seafood ASA stock A Buy?
Grieg Seafood ASA 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.
Current score: -4.043 Sell Candidate Unchanged
Predicted Opening Price for Grieg Seafood ASA of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| kr64.52 ( 0.97%) | kr63.90 |
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 | 66.77 | 4.49% |
| R2 | 65.91 | 3.14% |
| R1 | 65.38 | 2.31% |
| Price | 63.90 | |
| S1 | 63.66 | -0.380% |
| S2 | 63.13 | -1.21% |
| S3 | 62.27 | -2.56% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 71.55 | 11.97% |
| R2 | 65.30 | 2.19% |
| R1 | 64.00 | 0.156% |
| Price | 63.90 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
GSF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 20, 2024 | Jun 20, 2024 | Jun 27, 2024 | kr1.75 | 2.74% |
| 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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