TOP Ships Inc. Stock Forecast
Red day on Monday for TOP Ships Inc. stock after losing 2.37%
(Updated on Jun 17, 2024)
The TOP Ships Inc. stock price fell by -2.37% on the last day (Monday, 17th Jun 2024) from $12.25 to $11.96. It has now fallen 6 days in a row. During the last trading day the stock fluctuated 1.26% from a day low at $11.94 to a day high of $12.09. The price has fallen in 9 of the last 10 days and is down by -10.08% for this period. 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 -6 thousand shares and in total, 9 thousand shares were bought and sold for approximately $103.28 thousand.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $11.84 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -4.53% during the next 3 months and, with a 90% probability hold a price between $11.30 and $13.23 at the end of this 3-month period.
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TOPS Signals & Forecast
There are few to no technical positive signals at the moment. The TOP Ships Inc. 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 $12.72 and $12.82. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 28, 2024, and so far it has fallen -14.57%. 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). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for TOP Ships Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.150 between high and low, or 1.26%. For the last week the stock has had daily average volatility of 3.85%.
TOP Ships Inc. is oversold on RSI14 (10). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TOPS) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect TOP Ships Inc. to open at $12.00, and during the day (based on 14 day Average True Range), to move between $11.54 and $12.38, which gives a possible trading interval of +/-$0.421 (+/-3.52%) up or down from last closing price. If TOP Ships Inc. takes out the full calculated possible swing range there will be an estimated 7.05% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $13.14, some $1.18 (9.87%) from the current price of $11.96, our system finds the risk reward not very attractive.
Is TOP Ships Inc. stock A Buy?
TOP Ships Inc. 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: -2.130 Sell Candidate Unchanged
Predicted Opening Price for TOP Ships Inc. of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $12.00 ( 0.307%) | $11.96 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TOPS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.15 | 1.56% |
| R2 | 12.09 | 1.08% |
| R1 | 12.05 | 0.786% |
| Price | 11.96 | |
| S1 | 11.94 | -0.173% |
| S2 | 11.90 | -0.469% |
| S3 | 11.85 | -0.95% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.49 | 12.79% |
| R2 | 13.46 | 12.54% |
| R1 | 13.14 | 9.87% |
| Price | 11.96 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
TOPS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 06, 2006 | Apr 12, 2006 | Aug 10, 2020 | $9,449,999,695,872.00 | 2,289,244,112,372.09% |
| 2 | Mar 13, 2006 | Mar 28, 2006 | Mar 27, 2006 | $18,899,999,391,744.00 | 2.35% |
| 3 | Jan 04, 2006 | Jan 12, 2006 | Jan 23, 2006 | $793,800,015,872.00 | 0.142% |
| 4 | Oct 04, 2005 | Oct 12, 2005 | Oct 25, 2005 | $793,800,015,872.00 | 0.135% |
| 5 | Jul 05, 2005 | Jul 13, 2005 | Jul 27, 2005 | $945,000,022,016.00 | 0.135% |
FAQ
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