Ice Fish Farm AS Stock Forecast

Ice Fish Farm AS stock downgraded from Buy Candidate to Hold/Accumulate after Thursday trading session.
(Updated on May 16, 2024)

IFISH.OL Signals & Forecast

The Ice Fish Farm AS stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately kr28.66. On a fall, the stock will find some support from the long-term average at approximately kr26.43. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Wednesday, May 15, 2024, and so far it has fallen -4.14%. 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 along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Monday, April 15, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Ice Fish Farm AS stock

Ice Fish Farm AS finds support from accumulated volume at kr27.00 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved kr1.80 between high and low, or 6.47%. For the last week the stock has had daily average volatility of 3.49%.

Our recommended stop-loss: kr26.26 (-5.53%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (IFISH.OL) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Ice Fish Farm AS to open at kr28.40, and during the day (based on 14 day Average True Range), to move between kr26.28 and kr29.32, which gives a possible trading interval of +/-kr1.52 (+/-5.47%) up or down from last closing price. If Ice Fish Farm AS takes out the full calculated possible swing range there will be an estimated 10.93% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr28.00 (0.72%) than the support at kr27.00 (2.88%), 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 Ice Fish Farm AS stock A Buy?

Ice Fish Farm AS holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.691 Hold/Accumulate Downgraded

Predicted Opening Price for Ice Fish Farm AS of Tuesday, May 21, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.