Syn hf. Stock Forecast
Red day on Friday for Syn hf.
(Updated on May 03, 2024)
The Syn hf. stock price fell by -1.32% on the last day (Friday, 3rd May 2024) from 45.60 Íkr to 45.00 Íkr. During the last trading day the stock fluctuated 0.446% from a day low at 44.80 Íkr to a day high of 45.00 Íkr. The price has fallen in 6 of the last 10 days and is down by -5.06% for this period. Volume has increased on the last day by 290 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 290 thousand shares were bought and sold for approximately 13.03 Íkr million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Syn hf. stock with a 90% probability to be traded between 38.90 Íkr and 47.52 Íkr at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SYN.IC Signals & Forecast
The Syn hf. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately 45.89 Íkr. On a fall, the stock will find some support from the long-term average at approximately 43.87 Íkr. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Wednesday, April 24, 2024, and so far it has fallen -5.46%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Syn hf. stock
Syn hf. finds support from accumulated volume at 43.20 Íkr and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 0.200 Íkr between high and low, or 0.446%. For the last week, the stock has had daily average volatility of 0.711%.
Our recommended stop-loss: 42.79 Íkr (-4.92%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (SYN.IC) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Syn hf. to open at 44.93 Íkr, and during the day (based on 14 day Average True Range), to move between 44.19 Íkr and 45.81 Íkr, which gives a possible trading interval of +/-0.81 Íkr (+/-1.80%) up or down from last closing price. If Syn hf. takes out the full calculated possible swing range there will be an estimated 3.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 45.60 Íkr (1.33%) than the support at 43.20 Íkr (4.00%), 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 Syn hf. stock A Buy?
Syn hf. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Syn hf. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| 44.93 Íkr ( 0.148%) | 45.00 Íkr |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SYN.IC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 45.13 | 0.296 % | |
| R2 | 45.06 | 0.127 % | ||
| R1 | 45.01 | 0.0216 % | ||
| Current price: | 45.00 | |||
| Support | S1 | 44.86 | -0.318 % | |
| S2 | 44.81 | -0.423 % | ||
| S3 | 44.73 | -0.593 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 47.80 | 6.22 % | |
| R2 | 46.60 | 3.56 % | ||
| R1 | 45.60 | 1.33 % | ||
| Current price | 45.00 | |||
| Support | S1 | 43.20 | -4.00% | |
| S2 | 41.60 | -7.56% | ||
| S3 | 39.00 | -13.33% |
SYN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 20, 2015 | Mar 20, 2015 | Mar 20, 2015 | 0.650 Íkr | 1.70% |
FAQ
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