OUTsurance Group Limited Stock Forecast
OUTsurance Group Limited stock price ended at $4,039.00 on Friday, after losing 0.0495%.
(Updated on May 03, 2024)
The OUTsurance Group Limited stock price fell by -0.0495% on the last day (Friday, 3rd May 2024) from $4,041.00 to $4,039.00. During the last trading day the stock fluctuated 1.74% from a day low at $4,030.00 to a day high of $4,100.00. The price has risen in 5 of the last 10 days and is up by 2.25% over the past 2 weeks. Volume has increased on the last day by 563 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 million shares were bought and sold for approximately $7.09 billion.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.35% during the next 3 months and, with a 90% probability hold a price between $3,669.55 and $4,013.24 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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OUT.JO Signals & Forecast
There are few to no technical positive signals at the moment. The OUTsurance Group Limited 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 $4,070.49. On a fall, the stock will find some support from the short-term average at $3,996.43. 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. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -0.444%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
A buy signal from a double bottom formation was found on Monday, April 22, 2024 and based on theory for this formation the price should go up by 1.82% to $4,112.39 within 23 trading days since signal was issued (Monday, May 06, 2024).
Support, Risk & Stop-loss for OUTsurance Group Limited stock
OUTsurance Group Limited finds support from accumulated volume at $3,946.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $70.00 (1.74%) between high and low. For the last week, the stock has had daily average volatility of 2.68%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OUT.JO) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect OUTsurance Group Limited to open at $4,056.33, and during the day (based on 14 day Average True Range), to move between $3,930.32 and $4,147.68, which gives a possible trading interval of +/-$108.68 (+/-2.69%) up or down from last closing price. If OUTsurance Group Limited takes out the full calculated possible swing range there will be an estimated 5.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $4,083.00 (1.09%) than the support at $3,946.00 (2.30%), 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 OUTsurance Group Limited stock A Buy?
OUTsurance Group Limited holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -1.410 Sell Candidate Unchanged
Predicted Opening Price for OUTsurance Group Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $4,056.33 ( 0.429%) | $4,039.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OUT.JO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,126.33 | 2.16 % | |
| R2 | 4,099.59 | 1.50 % | ||
| R1 | 4,083.07 | 1.09 % | ||
| Current price: | 4,039.00 | |||
| Support | S1 | 4,029.59 | -0.233 % | |
| S2 | 4,013.07 | -0.642 % | ||
| S3 | 3,986.33 | -1.30 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,200.00 | 3.99 % | |
| R2 | 4,150.00 | 2.75 % | ||
| R1 | 4,083.00 | 1.09 % | ||
| Current price | 4,039.00 | |||
| Support | S1 | 3,946.00 | -2.30% | |
| S2 | 3,901.00 | -3.42% | ||
| S3 | 3,871.00 | -4.16% |
OUT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 10, 2024 | Apr 10, 2024 | Apr 15, 2024 | $61.20 | 1.51% |
| 2 | Oct 11, 2023 | Oct 11, 2023 | Oct 11, 2023 | $8.50 | 0.202% |
| 3 | Oct 04, 2023 | Oct 04, 2023 | Oct 04, 2023 | $78.00 | 1.91% |
| 4 | Apr 12, 2023 | Apr 12, 2023 | Apr 12, 2023 | $56.80 | 1.63% |
| 5 | Oct 19, 2022 | Oct 19, 2022 | Oct 19, 2022 | $42.00 | 1.53% |
FAQ
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