Safety Insurance Group Stock Forecast
Evaluation of Safety Insurance Group stock downgraded after the last trading session.
(Updated on Apr 26, 2024)
The Safety Insurance Group stock price fell by -0.291% on the last day (Friday, 26th Apr 2024) from $79.05 to $78.82. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 1.00% from a day low at $78.30 to a day high of $79.08. The price has been going up and down for this period, and there has been a 0.92% 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 -567 shares and in total, 31 thousand shares were bought and sold for approximately $2.41 million.
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 -6.67% during the next 3 months and, with a 90% probability hold a price between $71.00 and $76.59 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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SAFT Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Safety Insurance Group stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $80.70 and $80.05. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 22, 2024, and so far it has fallen -4.39%. Further fall is indicated until a new bottom pivot has been found. 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 Safety Insurance Group stock
Safety Insurance Group finds support from accumulated volume at $78.78 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 $0.780 (1.00%) between high and low. For the last week, the stock has had daily average volatility of 1.53%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SAFT) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Safety Insurance Group to open at $78.73, and during the day (based on 14 day Average True Range), to move between $77.20 and $80.44, which gives a possible trading interval of +/-$1.62 (+/-2.05%) up or down from last closing price. If Safety Insurance Group takes out the full calculated possible swing range there will be an estimated 4.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $78.78 (0.05%) than the resistance at $82.43 (4.58%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Safety Insurance Group will release earnings BMO on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.500. We will update the financials statements for Safety Insurance Group, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.52% in the first trading day after earnings release.
Is Safety Insurance Group stock A Buy?
Safety Insurance Group 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.888 Strong Sell Candidate Downgraded
Predicted Opening Price for Safety Insurance Group of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $78.73 ( 0.110%) | $78.82 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SAFT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 79.51 | 0.88 % | |
| R2 | 79.22 | 0.502 % | ||
| R1 | 79.03 | 0.268 % | ||
| Current price: | 78.82 | |||
| Support | S1 | 78.44 | -0.488 % | |
| S2 | 78.25 | -0.722 % | ||
| S3 | 77.95 | -1.10 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 84.97 | 7.80 % | |
| R2 | 83.25 | 5.62 % | ||
| R1 | 82.43 | 4.58 % | ||
| Current price | 78.82 | |||
| Support | S1 | 78.78 | -0.0507% | |
| S2 | 78.45 | -0.469% | ||
| S3 | 78.10 | -0.91% |
SAFT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 29, 2024 | Feb 29, 2024 | Mar 15, 2024 | $0.90 | 1.09% |
| 2 | Nov 01, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.90 | 1.17% |
| 3 | Aug 02, 2023 | Aug 31, 2023 | Sep 15, 2023 | $0.90 | 1.30% |
| 4 | May 03, 2023 | May 31, 2023 | Jun 15, 2023 | $0.90 | 1.24% |
| 5 | Feb 15, 2023 | Feb 28, 2023 | Mar 15, 2023 | $0.90 | 1.23% |
FAQ
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