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Weaker technical forecast for Sirius International Insurance Group as stock downgraded to Sell Candidate
(Updated on Oct 03, 2024)

Sell candidate since Oct 03, 2024

The Sirius International Insurance Group stock price fell by -3.25% on the last day (Thursday, 3rd Oct 2024) from $34.76 to $33.63. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 6.92% from a day low at $33.32 to a day high of $35.63. The price has fallen in 7 of the last 10 days and is down by -6.56% for this period. 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 -29 thousand shares and in total, 2 million shares were bought and sold for approximately $77.30 million.

The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $31.46 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 38.33% during the next 3 months and, with a 90% probability hold a price between $43.52 and $59.39 at the end of this 3-month period.

SG 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 Sirius International 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 $35.06 and $33.77. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, August 23, 2024, and so far it has fallen -10.68%. 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 Sirius International Insurance Group stock

On the downside, the stock finds support just below today's level from accumulated volume at $29.85 and $28.45. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Sirius International Insurance Group finds support just below today's level at $29.85. If this is broken, then the next support from accumulated volume will be at $28.45 and $26.05.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $2.30 between high and low, or 6.92%. For the last week, the stock has had daily average volatility of 7.02%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (SG) For The Upcoming Trading Day Of Friday 4th

For the upcoming trading day on Friday, 4th we expect Sirius International Insurance Group Ltd. to open at $34.19, and during the day (based on 14 day Average True Range), to move between $31.50 and $35.76, which gives a possible trading interval of +/-$2.13 (+/-6.33%) up or down from last closing price. If Sirius International Insurance Group Ltd. takes out the full calculated possible swing range there will be an estimated 12.66% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $34.25 (1.84%) than the support at $29.85 (11.24%), 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 Sirius International Insurance Group Ltd. stock A Buy?

The Sirius International Insurance Group stock holds several negative signals and despite the positive trend, we believe Sirius International Insurance Group will perform weakly in the next couple of days or weeks. Therefore, we 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: -3.336 Sell Candidate Downgraded

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Predicted Fair Opening Price

Predicted fair opening price on October 4, 2024 - $34.19 ( 1.67%). The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for SG

Fibonacci Support & Resistance Levels

Level Price
R3 36.50 8.53%
R2 35.62 5.91%
R1 35.07 4.29%
Price 33.63
S1 33.31 -0.94%
S2 32.77 -2.56%
S3 31.89 -5.18%

Accumulated Volume Support & Resistance Levels

Level Price
R3 36.77 9.34%
R2 35.01 4.10%
R1 34.25 1.84%
Price 33.63
S1 29.85 -11.24%
S2 28.45 -15.40%
S3 26.05 -22.54%

FAQ

What is the symbol for Sirius International Insurance Group Ltd. Stock and on which exchange is it traded?
The symbol for Sirius International Insurance Group Ltd. is SG and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Sirius International Insurance Group Ltd. Stock?
The Sirius International Insurance Group stock holds several negative signals and despite the positive trend, we believe Sirius International Insurance Group will perform weakly in the next couple of days or weeks. Therefore, we 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.

How to buy Sirius International Insurance Group Ltd. Stock?
Sirius International Insurance Group Ltd. Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Sirius International Insurance Group Ltd. Stock.

What's the current price of Sirius International Insurance Group Ltd. Stock?
As of the end of day on the Oct 03, 2024, the price of an Sirius International Insurance Group Ltd. (SG) share was $33.63.

What is the 52-week high and low for Sirius International Insurance Group Ltd. Stock?
The 52-week high for Sirius International Insurance Group Ltd. Stock is $38.53 and the 52-week low is $8.65.

What is the market capitalization of Sirius International Insurance Group Ltd. Stock?
As of the Oct 03, 2024, the market capitalization of Sirius International Insurance Group Ltd. is 3.968B.

When is the next earnings date for Sirius International Insurance Group Ltd.?
The upcoming earnings date for Sirius International Insurance Group Ltd. is Nov 07, 2024.
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ABOUT SIRIUS INTERNATIONAL INSURANCE GROUP LTD.
Sirius International Insurance Group Ltd.
Sweetgreen, Inc., together with its subsidiaries, develops and operates fast-casual restaurants serving healthy foods prepared from seasonal and organic ingredients. The company also accepts orders through its online and mobile ordering platforms, as well as sells gift cards that can be redeemed in its restaurants. As of September 26, 2021, it owned and operated 140 restaurants in 13 states and Washington, D.C. The company was founded in 2006 and...
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