Skeljungur hf. Stock Forecast
Skeljungur hf. stock upgraded from Hold/Accumulate to Buy Candidate after Tuesday trading session.
(Updated on Apr 30, 2024)
The Skeljungur hf. stock price gained 3.07% on the last trading day (Tuesday, 30th Apr 2024), rising from 16.30 Íkr to 16.80 Íkr. During the last trading day the stock fluctuated 3.07% from a day low at 16.30 Íkr to a day high of 16.80 Íkr. The price has fallen in 5 of the last 10 days but is still up by 1.82% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately 28.00 Íkr million.
Given the current short-term trend, the stock is expected to fall -13.06% during the next 3 months and, with a 90% probability hold a price between 12.51 Íkr and 14.61 Íkr 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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SKEL.IC Signals & Forecast
Mostly positive signals in the chart today. The Skeljungur hf. 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 16.48 Íkr and 16.30 Íkr. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 21, 2024, and so far it has risen 9.09%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Skeljungur hf. stock
Skeljungur hf. finds support from accumulated volume at 16.40 Íkr 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 0.500 Íkr between high and low, or 3.07%. For the last week the stock has had daily average volatility of 2.08%.
Our recommended stop-loss: 15.95 Íkr (-5.07%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 24 days ago.)
Trading Expectations (SKEL.IC) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Skeljungur hf. to open at 16.63 Íkr, and during the day (based on 14 day Average True Range), to move between 16.45 Íkr and 17.15 Íkr, which gives a possible trading interval of +/-0.345 Íkr (+/-2.06%) up or down from last closing price. If Skeljungur hf. takes out the full calculated possible swing range there will be an estimated 4.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 16.40 Íkr (2.38%) than the resistance at 17.75 Íkr (5.65%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Skeljungur hf. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.697 Buy Candidate Upgraded
Predicted Opening Price for Skeljungur hf. of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| 16.63 Íkr ( 0.99%) | 16.80 Íkr |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SKEL.IC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.13 | 1.98 % | |
| R2 | 16.94 | 0.85 % | ||
| R1 | 16.82 | 0.145 % | ||
| Current price: | 16.80 | |||
| Support | S1 | 16.44 | -2.13 % | |
| S2 | 16.32 | -2.83 % | ||
| S3 | 16.13 | -3.97 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.70 | 11.31 % | |
| R2 | 17.90 | 6.55 % | ||
| R1 | 17.75 | 5.65 % | ||
| Current price | 16.80 | |||
| Support | S1 | 16.40 | -2.38% | |
| S2 | 16.35 | -2.68% | ||
| S3 | 15.80 | -5.95% |
SKEL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 08, 2024 | Mar 08, 2024 | Mar 08, 2024 | 0 Íkr | 0% |
| 2 | Mar 10, 2023 | Mar 10, 2023 | Mar 10, 2023 | 0.310 Íkr | 2.07% |
| 3 | Mar 11, 2022 | Mar 11, 2022 | Mar 11, 2022 | 0.258 Íkr | 1.66% |
| 4 | Mar 05, 2021 | Mar 05, 2021 | Mar 05, 2021 | 0.181 Íkr | 1.75% |
| 5 | Mar 06, 2020 | Mar 06, 2020 | Mar 06, 2020 | 0.280 Íkr | 3.30% |
FAQ
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