Saga Tankers ASA Stock Forecast
Saga Tankers ASA stock price down 0% on Friday
(Updated on May 10, 2024)
No changes to the price of Saga Tankers ASA stock on the last trading day (Friday, 10th May 2024). During the last trading day the stock fluctuated 1.17% from a day low at kr1.28 to a day high of kr1.30. The price has risen in 4 of the last 10 days and is up by 1.57% over the past 2 weeks.
The stock lies in the middle of a narrow and 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 -3.21% during the next 3 months and, with a 90% probability hold a price between kr1.22 and kr1.26 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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SAGA.OL Signals & Forecast
The Saga Tankers ASA stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at kr1.28 and kr1.28. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has risen 2.38%. Further rise is indicated until a new top pivot has been found. 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). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point".
Support, Risk & Stop-loss for Saga Tankers ASA stock
Saga Tankers ASA finds support from accumulated volume at kr1.29 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved kr0.0150 between high and low, or 1.17%. For the last week the stock has had daily average volatility of 1.83%
Our recommended stop-loss: kr1.22 (-5.11%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (SAGA.OL) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Saga Tankers ASA to open at kr1.29, and during the day (based on 14 day Average True Range), to move between kr1.27 and kr1.31, which gives a possible trading interval of +/-kr0.0220 (+/-1.70%) up or down from last closing price. If Saga Tankers ASA takes out the full calculated possible swing range there will be an estimated 3.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr1.29 (0.31%) than the support at kr1.29 (0.39%), 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 Saga Tankers ASA stock A Buy?
Saga Tankers ASA holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.214 Hold/Accumulate Unchanged
Predicted Opening Price for Saga Tankers ASA of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| kr1.29 ( 0.129%) | kr1.29 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SAGA.OL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.30 | 1.03 % | |
| R2 | 1.30 | 0.589 % | ||
| R1 | 1.29 | 0.315 % | ||
| Current price: | 1.29 | |||
| Support | S1 | 1.28 | -0.573 % | |
| S2 | 1.28 | -0.85 % | ||
| S3 | 1.27 | -1.29 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.31 | 1.16 % | |
| R2 | 1.30 | 0.775 % | ||
| R1 | 1.29 | 0.310 % | ||
| Current price | 1.29 | |||
| Support | S1 | 1.29 | -0.388% | |
| S2 | 1.28 | -1.16% | ||
| S3 | 1.27 | -1.55% |
SAGA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 06, 2022 | Sep 06, 2022 | Sep 06, 2022 | kr0.100 | 4.60% |
| 2 | Feb 28, 2022 | Feb 28, 2022 | Feb 28, 2022 | kr0.100 | 3.15% |
| 3 | Sep 09, 2021 | Sep 09, 2021 | Sep 09, 2021 | kr0.100 | 3.37% |
| 4 | Aug 27, 2020 | Aug 27, 2020 | Aug 27, 2020 | kr0.0834 | 11.11% |
| 5 | Jun 17, 2020 | Jun 17, 2020 | Jun 17, 2020 | kr0.0834 | 10.20% |
FAQ
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