Kvika banki hf. Stock Forecast

Kvika banki hf. stock downgraded from Buy Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Jun 20, 2024)

KVIKA.IC Signals & Forecast

The Kvika banki hf. 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 15.13 Íkr. On a fall, the stock will find some support from the long-term average at approximately 14.62 Íkr. 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, June 12, 2024, and so far it has fallen -3.41%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Kvika banki hf. stock

Kvika banki hf. finds support from accumulated volume at 14.85 Íkr and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved 0.200 Íkr between high and low, or 1.35%. For the last week the stock has had daily average volatility of 1.07%.

Our recommended stop-loss: 14.32 Íkr (-3.76%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 32 days ago.)

Trading Expectations (KVIKA.IC) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Kvika banki hf. to open at 14.93 Íkr, and during the day (based on 14 day Average True Range), to move between 14.62 Íkr and 15.13 Íkr, which gives a possible trading interval of +/-0.255 Íkr (+/-1.71%) up or down from last closing price. If Kvika banki hf. takes out the full calculated possible swing range there will be an estimated 3.42% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at 14.85 Íkr (0.17%) than the resistance at 15.00 Íkr (0.84%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Kvika banki hf. stock A Buy?

Kvika banki hf. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: 0.078 Hold/Accumulate Downgraded

Predicted Opening Price for Kvika banki hf. of Friday, June 21, 2024

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