Hafnia Limited Stock Forecast
Stronger technical forecast for Hafnia Limited stock price after Thursday trading.
(Updated on Jun 27, 2024)
The Hafnia Limited stock price gained 0.364% on the last trading day (Thursday, 27th Jun 2024), rising from $8.25 to $8.28. During the last trading day the stock fluctuated 1.15% from a day low at $8.24 to a day high of $8.33. The price has risen in 7 of the last 10 days and is up by 3.37% over the past 2 weeks. Volume fell on the last day by -428 shares and in total, 297 thousand shares were bought and sold for approximately $2.46 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 $8.29 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 -9.28% during the next 3 months and, with a 90% probability hold a price between $6.53 and $7.52 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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HAFN Signals & Forecast
The Hafnia Limited 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 $8.04 and $8.23. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 10.55%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Hafnia Limited stock
Hafnia Limited finds support from accumulated volume at $7.98 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 $0.0950 between high and low, or 1.15%. For the last week, the stock has had daily average volatility of 1.62%.
Our recommended stop-loss: $7.85 (-5.16%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 18 days ago.)
Trading Expectations (HAFN) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Hafnia Limited to open at $8.28, and during the day (based on 14 day Average True Range), to move between $8.07 and $8.49, which gives a possible trading interval of +/-$0.213 (+/-2.57%) up or down from last closing price. If Hafnia Limited takes out the full calculated possible swing range there will be an estimated 5.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $8.39 (1.33%) than the support at $7.98 (3.62%), 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.
Is Hafnia Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.283 Buy Candidate Upgraded
Predicted Opening Price for Hafnia Limited of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| $8.28 ( 0.0201%) | $8.28 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HAFN
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8.38 | 1.17% |
| R2 | 8.34 | 0.729% |
| R1 | 8.32 | 0.458% |
| Price | 8.28 | |
| S1 | 8.25 | -0.418% |
| S2 | 8.22 | -0.689% |
| S3 | 8.19 | -1.13% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8.50 | 2.66% |
| R2 | 8.43 | 1.81% |
| R1 | 8.39 | 1.33% |
| Price | 8.28 | |
| S1 | 7.98 | -3.62% |
| S2 | 7.96 | -3.86% |
| S3 | 7.64 | -7.73% |
HAFN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 15, 2024 | May 22, 2024 | Jun 03, 2024 | $0.344 | 3.94% |
| 2 | Mar 11, 2024 | Mar 11, 2024 | Mar 19, 2024 | $0.243 | 0% |
FAQ
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