Okeanis Eco Tankers Corp Stock Forecast
Okeanis Eco Tankers Corp stock downgraded from Hold/Accumulate to Sell Candidate after Wednesday trading session.
(Updated on Jun 26, 2024)
The Okeanis Eco Tankers Corp stock price gained 2.24% on the last trading day (Wednesday, 26th Jun 2024), rising from kr335.00 to kr342.50. During the last trading day the stock fluctuated 2.39% from a day low at kr334.50 to a day high of kr342.50. The price has been going up and down for this period, and there has been a -1.15% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 17 thousand more shares were traded than the day before. In total, 28 thousand shares were bought and sold for approximately kr9.49 million.
The stock lies in the middle of a wide and weak 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 5.46% during the next 3 months and, with a 90% probability hold a price between kr345.53 and kr410.12 at the end of this 3-month period.
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OET.OL Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 5.22%. 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 Okeanis Eco Tankers Corp 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 kr353.81. On a fall, the stock will find some support from the short-term average at kr333.21. 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 Okeanis Eco Tankers Corp stock
Okeanis Eco Tankers Corp finds support from accumulated volume at kr341.50 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 kr8.00 between high and low, or 2.39%. For the last week, the stock has had daily average volatility of 2.47%.
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 Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Okeanis Eco Tankers Corp to open at kr339.83, and during the day (based on 14 day Average True Range), to move between kr333.27 and kr351.73, which gives a possible trading interval of +/-kr9.23 (+/-2.70%) 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 5.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr343.50 (0.29%) than the support at kr341.50 (0.29%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Okeanis Eco Tankers Corp stock A Buy?
Okeanis Eco Tankers Corp holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, 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: -1.280 Sell Candidate Downgraded
Predicted Opening Price for Okeanis Eco Tankers Corp of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| kr339.83 ( 0.779%) | kr342.50 |
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 | 347.83 | 1.56% |
| R2 | 344.78 | 0.665% |
| R1 | 342.89 | 0.114% |
| Price | 342.50 | |
| S1 | 336.78 | -1.67% |
| S2 | 334.89 | -2.22% |
| S3 | 331.83 | -3.11% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 375.00 | 9.49% |
| R2 | 362.00 | 5.69% |
| R1 | 343.50 | 0.292% |
| Price | 342.50 | |
| S1 | 341.50 | -0.292% |
| S2 | 338.00 | -1.31% |
| S3 | 327.00 | -4.53% |
OET Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 05, 2024 | Jun 05, 2024 | Jun 20, 2024 | kr11.81 | 3.60% |
| 2 | Jun 04, 2024 | Jun 04, 2024 | Jun 20, 2024 | kr11.55 | 3.52% |
| 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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