Safety Insurance Group Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Evaluation of Safety Insurance Group stock downgraded after the last trading session.
(Updated on May 08, 2024)
The Safety Insurance Group stock price gained 1.39% on the last trading day (Wednesday, 8th May 2024), rising from $81.15 to $82.28. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.13% from a day low at $81.10 to a day high of $82.83. The price has risen in 7 of the last 10 days and is up by 0.72% over the past 2 weeks. Volume fell on the last day by -10 thousand shares and in total, 36 thousand shares were bought and sold for approximately $2.93 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockhas broken the falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $81.44, a level that may pose a second chance to hit a runner. According to fan-theory $87.32 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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SAFT Signals & Forecast
The Safety Insurance 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 $80.66 and $80.08. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 Monday, April 22, 2024, and so far it has fallen -0.194%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Safety Insurance Group stock
Safety Insurance Group finds support from accumulated volume at $81.00 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 $1.73 between high and low, or 2.13%. For the last week the stock has had daily average volatility of 2.22%.
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 Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Safety Insurance Group to open at $82.07, and during the day (based on 14 day Average True Range), to move between $80.58 and $83.98, which gives a possible trading interval of +/-$1.70 (+/-2.07%) up or down from last closing price. If Safety Insurance Group takes out the full calculated possible swing range there will be an estimated 4.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $82.43 (0.18%) than the support at $81.00 (1.56%), 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 Safety Insurance Group stock A Buy?
Safety Insurance Group 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 Buy to a Sell candidate.
Current score: -1.241 Sell Candidate Downgraded
Predicted Opening Price for Safety Insurance Group of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| $82.07 ( 0.255%) | $82.28 |
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 | 83.80 | 1.85 % | |
| R2 | 83.14 | 1.04 % | ||
| R1 | 82.73 | 0.548 % | ||
| Current price: | 82.28 | |||
| Support | S1 | 81.41 | -1.06 % | |
| S2 | 81.00 | -1.55 % | ||
| S3 | 80.34 | -2.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 84.97 | 3.27 % | |
| R2 | 83.25 | 1.18 % | ||
| R1 | 82.43 | 0.182 % | ||
| Current price | 82.28 | |||
| Support | S1 | 81.00 | -1.56% | |
| S2 | 79.01 | -3.97% | ||
| S3 | 78.10 | -5.08% |
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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