Icelandic Salmon AS Stock Forecast
Red day on Tuesday for Icelandic Salmon AS
(Updated on Jun 25, 2024)
No changes to the price of Icelandic Salmon AS stock on the last trading day (Tuesday, 25th Jun 2024). During the last trading day the stock fluctuated 4.63% from a day low at kr108.00 to a day high of kr113.00. The price has fallen in 4 of the last 10 days and is down by -3.45% for this period.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -15.60% during the next 3 months and, with a 90% probability hold a price between kr90.65 and kr106.55 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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ISLAX.OL Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has risen 0.90%. Further rise is indicated until a new top pivot has been found. Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". Some negative signals were issued as well, and these may have some influence on the near short-term development. The Icelandic Salmon AS 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 kr112.14 and kr121.86. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Icelandic Salmon AS stock
Icelandic Salmon AS finds support from accumulated volume at kr111.00 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved kr5.00 between high and low, or 4.63%. For the last week, the stock has had daily average volatility of 2.92%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ISLAX.OL) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Icelandic Salmon AS to open at kr111.00, and during the day (based on 14 day Average True Range), to move between kr107.32 and kr116.68, which gives a possible trading interval of +/-kr4.68 (+/-4.18%) up or down from last closing price. If Icelandic Salmon AS takes out the full calculated possible swing range there will be an estimated 8.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr113.00 (0.89%) than the support at kr111.00 (0.89%), 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 Icelandic Salmon AS stock A Buy?
Icelandic Salmon AS 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: -3.682 Sell Candidate Unchanged
Predicted Opening Price for Icelandic Salmon AS of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| kr111.00 ( 0.89%) | kr112.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ISLAX.OL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 116.00 | 3.57% |
| R2 | 114.09 | 1.87% |
| R1 | 112.91 | 0.81% |
| Price | 112.00 | |
| S1 | 109.09 | -2.60% |
| S2 | 107.91 | -3.65% |
| S3 | 106.00 | -5.36% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 139.00 | 24.11% |
| R2 | 131.00 | 16.96% |
| R1 | 113.00 | 0.89% |
| Price | 112.00 | |
| S1 | 111.00 | -0.89% |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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