Overseas Shipholding Group Stock Forecast
Red day on Thursday for Overseas Shipholding Group stock after losing 0.118%
(Updated on Jun 20, 2024)
The Overseas Shipholding Group stock price fell by -0.118% on the last day (Thursday, 20th Jun 2024) from $8.47 to $8.46. During the last trading day the stock fluctuated 0.118% from a day low at $8.46 to a day high of $8.47. The price has been going up and down for this period, and there has been a 0.24% gain for the last 2 weeks. 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 -111 thousand shares and in total, 572 thousand shares were bought and sold for approximately $4.84 million.
The stock lies in the middle of a wide and 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 55.56% during the next 3 months and, with a 90% probability hold a price between $12.12 and $13.44 at the end of this 3-month period.
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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 $8.45 and $7.75. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -0.118%. 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 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 0.261%.
Our recommended stop-loss: $7.96 (-5.94%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 43 days ago.)
Trading Expectations (OSG) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Overseas Shipholding Group to open at $8.46, and during the day (based on 14 day Average True Range), to move between $8.38 and $8.54, which gives a possible trading interval of +/-$0.0820 (+/-0.97%) up or down from last closing price. If Overseas Shipholding Group takes out the full calculated possible swing range there will be an estimated 1.94% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $8.47 (0.12%) than the support at $8.45 (0.12%), 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 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: 1.332 Buy Candidate Unchanged
Predicted Opening Price for Overseas Shipholding Group of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| $8.46 ( 0.0394%) | $8.46 |
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 | 8.47 | 0.158% |
| R2 | 8.47 | 0.112% |
| R1 | 8.47 | 0.0846% |
| Price | 8.46 | |
| S1 | 8.46 | -0.0058% |
| S2 | 8.46 | -0.0336% |
| S3 | 8.45 | -0.0788% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 8.47 | 0.118% |
| Price | 8.46 | |
| S1 | 8.45 | -0.118% |
| S2 | 8.42 | -0.473% |
| S3 | 8.41 | -0.591% |
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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