Overseas Shipholding Group Stock Forecast
Overseas Shipholding Group stock price ended at $8.49 on Tuesday, after gaining 0.118%.
(Updated on Jul 02, 2024)
The Overseas Shipholding Group stock price gained 0.118% on the last trading day (Tuesday, 2nd Jul 2024), rising from $8.48 to $8.49. During the last trading day the stock fluctuated 0.118% from a day low at $8.48 to a day high of $8.49. The price has risen in 5 of the last 10 days and is up by 0.47% 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, 1 million more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $14.98 million.
The stock has broken the wide and strong rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $8.72. A reaction back to this level may hold a second chance to get out before further falls.
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OSG Signals & Forecast
The Overseas Shipholding Group 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 $8.47 and $8.21. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 43.17%. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Overseas Shipholding Group stock
Overseas Shipholding Group finds support from accumulated volume at $8.45 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0100 between high and low, or 0.118%. For the last week the stock has had daily average volatility of 0.236%.
Our recommended stop-loss: $7.97 (-6.11%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 97 days ago.)
Trading Expectations (OSG) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Overseas Shipholding Group to open at $8.49, and during the day (based on 14 day Average True Range), to move between $8.44 and $8.54, which gives a possible trading interval of +/-$0.0538 (+/-0.63%) up or down from last closing price. If Overseas Shipholding Group takes out the full calculated possible swing range there will be an estimated 1.27% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $8.45, some $0.0400 (0.47%) from the current price of $8.49, our system finds the risk reward attractive.
Is Overseas Shipholding Group stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Overseas Shipholding Group stock to perform well in the short-term.
Current score: 4.003 Buy Candidate Unchanged
Predicted Opening Price for Overseas Shipholding Group of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $8.49 ( 0.0393%) | $8.49 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OSG
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8.50 | 0.0785% |
| R2 | 8.49 | 0.0335% |
| R1 | 8.49 | 0.0057% |
| Price | 8.49 | |
| S1 | 8.48 | -0.0843% |
| S2 | 8.48 | -0.112% |
| S3 | 8.48 | -0.157% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 8.49 | |
| S1 | 8.45 | -0.471% |
| S2 | 8.42 | -0.82% |
| S3 | 8.41 | -0.94% |
OSG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 27, 2024 | Mar 27, 2024 | Apr 11, 2024 | $0.0600 | 0.98% |
| 2 | Dec 06, 2023 | Dec 20, 2023 | Jan 04, 2024 | $0.0600 | 1.16% |
| 3 | Mar 01, 2016 | Mar 16, 2016 | Mar 25, 2016 | $0.480 | 11.62% |
FAQ
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