Marine Harvest ASA Stock Forecast
Stronger technical forecast for Marine Harvest ASA stock price after Friday trading.
(Updated on Jun 28, 2024)
The Marine Harvest ASA stock price gained 0.0602% on the last trading day (Friday, 28th Jun 2024), rising from $16.61 to $16.62. During the last trading day the stock fluctuated 0.483% from a day low at $16.58 to a day high of $16.66. The price has fallen in 5 of the last 10 days and is down by -5.41% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 thousand more shares were traded than the day before. In total, 5 thousand shares were bought and sold for approximately $79.48 thousand.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $16.42 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Marine Harvest ASA stock with a 90% probability to be traded between $16.18 and $18.27 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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MHGVY Signals & Forecast
There are mixed signals in the stock today. The Marine Harvest ASA 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 $17.18 and $17.81. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Thursday, June 27, 2024, and so far it has risen 0.0602%. 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). Marine Harvest ASA has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Thursday, June 27, 2024 and based on theory for this formation the price should go up by 21.65% to $20.22 within 48 trading days since signal was issued (Thursday, September 05, 2024).
Support, Risk & Stop-loss for Marine Harvest ASA stock
Marine Harvest ASA finds support from accumulated volume at $16.61 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 $0.0800 (0.483%) between high and low. For the last week, the stock has had daily average volatility of 0.275%.
Our recommended stop-loss: $15.55 (-6.45%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 28 days ago.)
Trading Expectations (MHGVY) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Marine Harvest ASA to open at $16.62, and during the day (based on 14 day Average True Range), to move between $16.40 and $16.84, which gives a possible trading interval of +/-$0.219 (+/-1.32%) up or down from last closing price. If Marine Harvest ASA takes out the full calculated possible swing range there will be an estimated 2.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $16.61 (0.06%) than the resistance at $17.40 (4.69%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Marine Harvest ASA stock A Buy?
Marine Harvest ASA 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: -0.818 Hold/Accumulate Upgraded
Predicted Opening Price for Marine Harvest ASA of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $16.62 ( 0%) | $16.62 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MHGVY
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 16.70 | 0.481% |
| R2 | 16.67 | 0.297% |
| R1 | 16.65 | 0.184% |
| Price | 16.62 | |
| S1 | 16.59 | -0.184% |
| S2 | 16.57 | -0.297% |
| S3 | 16.54 | -0.481% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 18.45 | 11.01% |
| R2 | 18.01 | 8.36% |
| R1 | 17.40 | 4.69% |
| Price | 16.62 | |
| S1 | 16.61 | -0.0602% |
| S2 | 0 | - |
| S3 | 0 | - |
MHGVY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 20, 2024 | May 20, 2024 | Jun 04, 2024 | $0.103 | 0.583% |
| 2 | Feb 23, 2024 | Feb 23, 2024 | Mar 11, 2024 | $0.135 | 0.705% |
| 3 | Nov 22, 2023 | Nov 22, 2023 | Dec 04, 2023 | $0.100 | 0.571% |
| 4 | Aug 23, 2023 | Sep 01, 2023 | Sep 18, 2023 | $0.187 | 1.03% |
| 5 | May 19, 2023 | May 19, 2023 | Jun 06, 2023 | $0.191 | 1.12% |
FAQ
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