OneBeacon Insurance Group, Ltd Stock Forecast
OneBeacon Insurance Group, Ltd stock upgraded from Buy Candidate to Strong Buy Candidate after Friday trading session.
(Updated on Jun 28, 2024)
The OneBeacon Insurance Group, Ltd stock price gained 2.68% on the last trading day (Friday, 28th Jun 2024), rising from $4.85 to $4.98. During the last trading day the stock fluctuated 5.83% from a day low at $4.80 to a day high of $5.08. The price has risen in 5 of the last 10 days and is up by 7.79% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 324 thousand more shares were traded than the day before. In total, 380 thousand shares were bought and sold for approximately $1.89 million.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 20.43% during the next 3 months and, with a 90% probability hold a price between $5.77 and $6.31 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
OB Signals & Forecast
Mostly positive signals in the chart today. The OneBeacon Insurance Group, Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $4.85 and $4.67. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 03, 2024, and so far it has risen 9.93%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for OneBeacon Insurance Group, Ltd stock
OneBeacon Insurance Group, Ltd finds support from accumulated volume at $4.94 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 $0.280 between high and low, or 5.83%. For the last week, the stock has had daily average volatility of 3.95%.
Our recommended stop-loss: $4.78 (-3.97%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 72 and this increases the risk substantially. There is a buy signal from a pivot bottom found 28 days ago.)
Trading Expectations (OB) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect OneBeacon Insurance Group, Ltd to open at $4.95, and during the day (based on 14 day Average True Range), to move between $4.83 and $5.13, which gives a possible trading interval of +/-$0.153 (+/-3.07%) up or down from last closing price. If OneBeacon Insurance Group, Ltd takes out the full calculated possible swing range there will be an estimated 6.14% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $4.94, some $0.0400 (0.80%) from the current price of $4.98, our system finds the risk reward attractive.
Is OneBeacon Insurance Group, Ltd stock A Buy?
OneBeacon Insurance Group, Ltd holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.757 Strong Buy Candidate Upgraded
Predicted Opening Price for OneBeacon Insurance Group, Ltd of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $4.95 ( 0.535%) | $4.98 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OB
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.23 | 5.09% |
| R2 | 5.13 | 2.94% |
| R1 | 5.06 | 1.61% |
| Price | 4.98 | |
| S1 | 4.85 | -2.68% |
| S2 | 4.78 | -4.01% |
| S3 | 4.67 | -6.16% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 4.98 | |
| S1 | 4.94 | -0.80% |
| S2 | 4.69 | -5.82% |
| S3 | 4.55 | -8.63% |
OB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 25, 2017 | Sep 07, 2017 | Sep 28, 2017 | $0.210 | 0% |
| 2 | May 25, 2017 | Jun 07, 2017 | Jun 22, 2017 | $0.210 | 0% |
| 3 | Mar 01, 2017 | Mar 08, 2017 | Mar 30, 2017 | $0.210 | 0% |
| 4 | Nov 17, 2016 | Dec 07, 2016 | Dec 22, 2016 | $0.210 | 0% |
| 5 | Aug 24, 2016 | Sep 07, 2016 | Sep 29, 2016 | $0.210 | 0% |
FAQ
Click here for our free guide on how to buy OneBeacon Insurance Group, Ltd Stock.
