Sirius International Insurance Group Stock Forecast
Green day on Friday for Sirius International Insurance Group
(Updated on May 03, 2024)
The Sirius International Insurance Group stock price gained 3.56% on the last trading day (Friday, 3rd May 2024), rising from $21.34 to $22.10. During the last trading day the stock fluctuated 4.13% from a day low at $21.77 to a day high of $22.67. The price has risen in 6 of the last 10 days and is up by 7.02% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 2 million shares were bought and sold for approximately $43.02 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 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 $20.36 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 77.54% during the next 3 months and, with a 90% probability hold a price between $36.15 and $56.62 at the end of this 3-month period.
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SG Signals & Forecast
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. 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. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $22.52 and $23.11. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 25, 2024, and so far it has fallen -13.67%. Further fall is indicated until a new bottom pivot has been found.
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 $19.91 and $18.63. 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 $19.91. If this is broken, then the next support from accumulated volume will be at $18.63 and $18.26.
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 $0.90 between high and low, or 4.13%. For the last week, the stock has had daily average volatility of 9.58%.
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 Monday 6th
For the upcoming trading day on Monday, 6th we expect Sirius International Insurance Group Ltd. to open at $22.18, and during the day (based on 14 day Average True Range), to move between $20.49 and $23.71, which gives a possible trading interval of +/-$1.61 (+/-7.27%) 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 14.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $22.86 (3.44%) than the support at $19.91 (9.91%), 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.
Earnings coming up
Sirius International Insurance Group Ltd. will release earnings AMC on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.210. We will update the financials statements for Sirius International Insurance Group Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.29% in the first trading day after earnings release.
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.
Current score: -4.207 Sell Candidate Unchanged
Predicted Opening Price for Sirius International Insurance Group Ltd. of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
$22.18 ( 0.362%) | $22.10 |
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 | |||
---|---|---|---|---|
Resistance | R3 | 23.08 | 4.43 % | |
R2 | 22.74 | 2.88 % | ||
R1 | 22.52 | 1.92 % | ||
Current price: | 22.10 | |||
Support | S1 | 21.84 | -1.19 % | |
S2 | 21.62 | -2.15 % | ||
S3 | 21.28 | -3.71 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 24.52 | 10.95 % | |
R2 | 24.41 | 10.45 % | ||
R1 | 22.86 | 3.44 % | ||
Current price | 22.10 | |||
Support | S1 | 19.91 | -9.91% | |
S2 | 18.63 | -15.70% | ||
S3 | 18.26 | -17.38% |
FAQ
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