Okeanis Eco Tankers Corp Stock Forecast
Okeanis Eco Tankers Corp stock downgraded from Hold/Accumulate to Sell Candidate after Monday trading session.
(Updated on Jun 17, 2024)
The Okeanis Eco Tankers Corp stock price fell by -0.459% on the last day (Monday, 17th Jun 2024) from kr327.00 to kr325.50. It has now fallen 6 days in a row. During the last trading day the stock fluctuated 2.33% from a day low at kr321.50 to a day high of kr329.00. The price has fallen in 9 of the last 10 days and is down by -13.2% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -2 thousand shares and in total, 56 thousand shares were bought and sold for approximately kr18.27 million.
Given the current short-term trend, the stock is expected to rise 12.04% during the next 3 months and, with a 90% probability hold a price between kr364.70 and kr440.17 at the end of this 3-month period.
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OET.OL Signals & Forecast
There are few to no technical positive signals at the moment. The Okeanis Eco Tankers Corp 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 kr340.86 and kr354.20. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 23, 2024, and so far it has fallen -14.57%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Okeanis Eco Tankers Corp stock
Okeanis Eco Tankers Corp finds support from accumulated volume at kr324.50 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 kr7.50 between high and low, or 2.33%. For the last week, the stock has had daily average volatility of 3.46%.
Okeanis Eco Tankers Corp is oversold on RSI14 (8). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OET.OL) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Okeanis Eco Tankers Corp to open at kr325.33, and during the day (based on 14 day Average True Range), to move between kr315.87 and kr335.13, which gives a possible trading interval of +/-kr9.63 (+/-2.96%) up or down from last closing price. If Okeanis Eco Tankers Corp takes out the full calculated possible swing range there will be an estimated 5.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr324.50 (0.31%) than the resistance at kr338.00 (3.84%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Okeanis Eco Tankers Corp stock A Buy?
The Okeanis Eco Tankers Corp stock holds several negative signals and despite the positive trend, we believe Okeanis Eco Tankers Corp will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.407 Sell Candidate Downgraded
Predicted Opening Price for Okeanis Eco Tankers Corp of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| kr325.33 ( 0.0512%) | kr325.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OET.OL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 332.83 | 2.25% |
| R2 | 329.97 | 1.37% |
| R1 | 328.20 | 0.83% |
| Price | 325.50 | |
| S1 | 322.47 | -0.93% |
| S2 | 320.70 | -1.48% |
| S3 | 317.83 | -2.36% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 375.00 | 15.21% |
| R2 | 343.50 | 5.53% |
| R1 | 338.00 | 3.84% |
| Price | 325.50 | |
| S1 | 324.50 | -0.307% |
| S2 | 322.00 | -1.08% |
| S3 | 314.00 | -3.53% |
OET Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 05, 2024 | Jun 05, 2024 | Jun 20, 2024 | kr11.81 | 3.63% |
| 2 | Jun 04, 2024 | Jun 04, 2024 | Jun 20, 2024 | kr11.55 | 3.55% |
| 3 | Mar 08, 2024 | Mar 08, 2024 | Mar 22, 2024 | kr6.95 | 2.16% |
| 4 | Nov 14, 2023 | Nov 14, 2023 | Nov 14, 2023 | kr0.600 | 0.211% |
| 5 | Aug 31, 2023 | Aug 31, 2023 | Aug 31, 2023 | kr1.50 | 0.607% |
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