Icelandic Salmon AS Stock Forecast
Green day on Friday for Icelandic Salmon AS
(Updated on Jun 28, 2024)
The Icelandic Salmon AS stock price gained 0.89% on the last trading day (Friday, 28th Jun 2024), rising from kr112.00 to kr113.00. During the last trading day the stock fluctuated 0.89% from a day low at kr112.00 to a day high of kr113.00. The price has been going up and down for this period, and there has been a 0% change for the last 2 weeks. Volume fell on the last day by -4 thousand shares and in total, 536 shares were bought and sold for approximately kr60.57 thousand. 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 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 -17.57% during the next 3 months and, with a 90% probability hold a price between kr88.83 and kr101.71 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 1.80%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at kr119.91. On a fall, the stock will find some support from the short-term average at kr112.29. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Icelandic Salmon AS stock
Icelandic Salmon AS finds support from accumulated volume at kr112.00 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 kr1.00 between high and low, or 0.89%. For the last week the stock has had daily average volatility of 2.57%.
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 Monday 1st
For the upcoming trading day on Monday, 1st we expect Icelandic Salmon AS to open at kr112.67, and during the day (based on 14 day Average True Range), to move between kr108.79 and kr117.21, which gives a possible trading interval of +/-kr4.21 (+/-3.73%) up or down from last closing price. If Icelandic Salmon AS takes out the full calculated possible swing range there will be an estimated 7.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr112.00 (0.88%) than the resistance at kr131.00 (15.93%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Icelandic Salmon AS stock A Buy?
Icelandic Salmon AS 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: -2.653 Sell Candidate Unchanged
Predicted Opening Price for Icelandic Salmon AS of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| kr112.67 ( 0.295%) | kr113.00 |
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 | 113.67 | 0.590% |
| R2 | 113.28 | 0.252% |
| R1 | 113.05 | 0.0431% |
| Price | 113.00 | |
| S1 | 112.28 | -0.633% |
| S2 | 112.05 | -0.84% |
| S3 | 111.67 | -1.18% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 139.00 | 23.01% |
| R2 | 133.00 | 17.70% |
| R1 | 131.00 | 15.93% |
| Price | 113.00 | |
| S1 | 112.00 | -0.88% |
| S2 | 111.00 | -1.77% |
| S3 | 0 | - |
FAQ
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