Siem Offshore Inc Stock Forecast
Red day on Tuesday for Siem Offshore Inc stock after losing 1.11%
(Updated on Apr 30, 2024)
The Siem Offshore Inc stock price fell by -1.11% on the last day (Tuesday, 30th Apr 2024) from kr36.15 to kr35.75. During the last trading day the stock fluctuated 2.25% from a day low at kr35.55 to a day high of kr36.35. The price has risen in 6 of the last 10 days and is up by 1.71% over the past 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 -33 thousand shares and in total, 79 thousand shares were bought and sold for approximately kr2.82 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 42.41% during the next 3 months and, with a 90% probability hold a price between kr49.10 and kr57.18 at the end of this 3-month period.
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SIOFF.OL Signals & Forecast
The Siem Offshore Inc 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 kr35.09 and kr34.41. A breakdown below any of these levels will issue sell signals. 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 Friday, April 12, 2024, and so far it has fallen -5.42%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Siem Offshore Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at kr29.15 and kr29.00. 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, Siem Offshore Inc finds support just below today's level at kr29.15. If this is broken, then the next support from accumulated volume will be at kr29.00 and kr26.95.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved kr0.80 between high and low, or 2.25%. For the last week, the stock has had daily average volatility of 2.63%.
Our recommended stop-loss: kr34.05 (-4.77%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (SIOFF.OL) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Siem Offshore Inc to open at kr35.88, and during the day (based on 14 day Average True Range), to move between kr34.50 and kr37.00, which gives a possible trading interval of +/-kr1.25 (+/-3.50%) up or down from last closing price. If Siem Offshore Inc takes out the full calculated possible swing range there will be an estimated 7.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr36.55 (2.24%) than the support at kr29.15 (18.46%), 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 Siem Offshore Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Siem Offshore Inc stock to perform well in the short-term.
Current score: 2.983 Buy Candidate Unchanged
Predicted Opening Price for Siem Offshore Inc of Thursday, May 2, 2024
Fair opening price May 2, 2024 | Current price |
---|---|
kr35.88 ( 0.373%) | kr35.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SIOFF.OL
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 36.68 | 2.61 % | |
R2 | 36.38 | 1.76 % | ||
R1 | 36.19 | 1.23 % | ||
Current price: | 35.75 | |||
Support | S1 | 35.58 | -0.482 % | |
S2 | 35.39 | -1.01 % | ||
S3 | 35.08 | -1.86 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 37.80 | 5.73 % | |
R2 | 36.70 | 2.66 % | ||
R1 | 36.55 | 2.24 % | ||
Current price | 35.75 | |||
Support | S1 | 29.15 | -18.46% | |
S2 | 29.00 | -18.88% | ||
S3 | 26.95 | -24.62% |
SIOFF Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 20, 2014 | May 06, 2014 | May 15, 2014 | kr10.00 | 1.16% |
FAQ
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