Kvika banki hf. Stock Forecast

Kvika banki hf. stock upgraded to Hold/Accumulate.
(Updated on May 03, 2024)

KVIKA.IC Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has risen 2.91%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Kvika banki hf. 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 14.68 Íkr. On a fall, the stock will find some support from the short-term average at 14.11 Íkr. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

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

Kvika banki hf. finds support from accumulated volume at 14.00 Íkr and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved 0.250 Íkr (1.77%) between high and low. For the last week, the stock has had daily average volatility of 1.43%.

Our recommended stop-loss: 13.41 Íkr (-5.25%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 1 day ago.)

Trading Expectations (KVIKA.IC) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Kvika banki hf. to open at 14.20 Íkr, and during the day (based on 14 day Average True Range), to move between 13.85 Íkr and 14.45 Íkr, which gives a possible trading interval of +/-0.303 Íkr (+/-2.14%) up or down from last closing price. If Kvika banki hf. takes out the full calculated possible swing range there will be an estimated 4.28% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at 14.00 Íkr (1.06%) than the resistance at 14.90 Íkr (5.30%), 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 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.292 Hold/Accumulate Upgraded

Predicted Opening Price for Kvika banki hf. of Monday, May 6, 2024

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