Skeljungur hf. Stock Forecast

Skeljungur hf. stock price down 0% on Wednesday
(Updated on May 15, 2024)

SKEL.IC Signals & Forecast

The volume rose on the last day while price remained unchanged. This may be an early warning and 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 Skeljungur hf. 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 16.20 Íkr and 16.22 Íkr. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -3.57%. 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).

Support, Risk & Stop-loss for Skeljungur hf. stock

Skeljungur hf. finds support from accumulated volume at 16.10 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 0.550 Íkr between high and low, or 3.43%. For the last week the stock has had daily average volatility of 1.68%.

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

Trading Expectations (SKEL.IC) For The Upcoming Trading Day Of Thursday 16th

For the upcoming trading day on Thursday, 16th we expect Skeljungur hf. to open at 16.28 Íkr, and during the day (based on 14 day Average True Range), to move between 15.87 Íkr and 16.53 Íkr, which gives a possible trading interval of +/-0.328 Íkr (+/-2.02%) up or down from last closing price. If Skeljungur hf. takes out the full calculated possible swing range there will be an estimated 4.05% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at 16.10 Íkr (0.62%) than the resistance at 16.40 Íkr (1.23%), 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?

Skeljungur hf. holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -4.294 Sell Candidate Unchanged

Predicted Opening Price for Skeljungur hf. of Thursday, May 16, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.