Costamare Inc Stock Forecast
Costamare Inc stock downgraded from Hold/Accumulate to Sell Candidate after Wednesday trading session.
(Updated on Apr 24, 2024)
The Costamare Inc stock price fell by -1.47% on the last day (Wednesday, 24th Apr 2024) from $11.53 to $11.36. During the last trading day the stock fluctuated 2.67% from a day low at $11.24 to a day high of $11.54. The price has been going up and down for this period, and there has been a 1.61% gain for the last 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 -74 thousand shares and in total, 396 thousand shares were bought and sold for approximately $4.50 million.
The stock lies in the middle of a wide and weak 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 3.17% during the next 3 months and, with a 90% probability hold a price between $10.94 and $12.25 at the end of this 3-month period.
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CMRE Signals & Forecast
The Costamare Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $11.07 and $11.24. 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 Tuesday, April 23, 2024, and so far it has fallen -1.47%. 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.
A sell signal from a double top formation was found on Tuesday, April 23, 2024 with a target of $11.37. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for Costamare Inc stock
Costamare Inc finds support from accumulated volume at $11.18 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.300 (2.67%) between high and low. For the last week, the stock has had daily average volatility of 2.65%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CMRE) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Costamare Inc to open at $11.38, and during the day (based on 14 day Average True Range), to move between $11.07 and $11.65, which gives a possible trading interval of +/-$0.293 (+/-2.58%) up or down from last closing price. If Costamare Inc takes out the full calculated possible swing range there will be an estimated 5.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11.37 (0.09%) than the support at $11.18 (1.58%), 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 Costamare Inc stock A Buy?
Costamare Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.793 Sell Candidate Downgraded
Predicted Opening Price for Costamare Inc of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $11.38 ( 0.176%) | $11.36 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CMRE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.68 | 2.82 % | |
| R2 | 11.57 | 1.81 % | ||
| R1 | 11.49 | 1.18 % | ||
| Current price: | 11.36 | |||
| Support | S1 | 11.27 | -0.83 % | |
| S2 | 11.19 | -1.46 % | ||
| S3 | 11.08 | -2.46 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.53 | 1.50 % | |
| R2 | 11.39 | 0.264 % | ||
| R1 | 11.37 | 0.0880 % | ||
| Current price | 11.36 | |||
| Support | S1 | 11.18 | -1.58% | |
| S2 | 11.14 | -1.94% | ||
| S3 | 10.91 | -3.96% |
CMRE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 02, 2024 | Apr 18, 2024 | May 06, 2024 | $0.115 | 1.01% |
| 2 | Jan 02, 2024 | Jan 19, 2024 | Feb 07, 2024 | $0.115 | 1.05% |
| 3 | Oct 02, 2023 | Oct 19, 2023 | Nov 06, 2023 | $0.120 | 1.32% |
| 4 | Jul 03, 2023 | Jul 19, 2023 | Aug 07, 2023 | $0.115 | 1.00% |
| 5 | Apr 03, 2023 | Apr 18, 2023 | May 05, 2023 | $0.115 | 1.37% |
FAQ
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