International Seaways Inc Stock Forecast
Stronger technical forecast for International Seaways Inc stock price after Thursday trading.
(Updated on Apr 25, 2024)
The International Seaways Inc stock price gained 1.87% on the last trading day (Thursday, 25th Apr 2024), rising from $53.58 to $54.58. During the last trading day the stock fluctuated 3.37% from a day low at $52.86 to a day high of $54.64. The price has risen in 7 of the last 10 days and is up by 2.88% over the past 2 weeks. Volume fell on the last day by -161 thousand shares and in total, 446 thousand shares were bought and sold for approximately $24.35 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a 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 2.03% during the next 3 months and, with a 90% probability hold a price between $52.59 and $56.52 at the end of this 3-month period.
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INSW Signals & Forecast
The International Seaways Inc 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 $53.29 and $52.90. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 09, 2024, and so far it has risen 6.33%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
A buy signal from a double bottom formation was found on Tuesday, February 20, 2024 with a target of $52.86. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for International Seaways Inc stock
International Seaways Inc finds support from accumulated volume at $53.99 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 $1.78 between high and low, or 3.37%. For the last week the stock has had daily average volatility of 2.56%.
Our recommended stop-loss: $52.17 (-4.41%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (INSW) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect International Seaways Inc to open at $54.03, and during the day (based on 14 day Average True Range), to move between $53.25 and $55.91, which gives a possible trading interval of +/-$1.33 (+/-2.43%) up or down from last closing price. If International Seaways Inc takes out the full calculated possible swing range there will be an estimated 4.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $55.11 (0.97%) than the support at $53.99 (1.08%), 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.
Earnings coming up
International Seaways Inc will release earnings BMO on Friday, May 03, 2024.The consensus among the analysts for the expected earnings (EPS) is $2.45. We will update the financials statements for International Seaways Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.05% in the first trading day after earnings release.
Is International Seaways Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for International Seaways Inc 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: 3.771 Buy Candidate Upgraded
Predicted Opening Price for International Seaways Inc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $54.03 ( 1.01%) | $54.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INSW
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 55.81 | 2.25 % | |
| R2 | 55.13 | 1.00 % | ||
| R1 | 54.71 | 0.232 % | ||
| Current price: | 54.58 | |||
| Support | S1 | 53.35 | -2.26 % | |
| S2 | 52.93 | -3.03 % | ||
| S3 | 52.25 | -4.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 55.11 | 0.97 % | ||
| Current price | 54.58 | |||
| Support | S1 | 53.99 | -1.08% | |
| S2 | 53.03 | -2.84% | ||
| S3 | 52.79 | -3.28% |
INSW Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 28, 2024 | Mar 13, 2024 | Mar 28, 2024 | $1.32 | 2.48% |
| 2 | Nov 06, 2023 | Dec 12, 2023 | Dec 27, 2023 | $0.480 | 1.04% |
| 3 | Aug 09, 2023 | Sep 12, 2023 | Sep 27, 2023 | $1.42 | 3.20% |
| 4 | May 04, 2023 | Jun 13, 2023 | Jun 28, 2023 | $1.62 | 4.49% |
| 5 | Feb 27, 2023 | Mar 13, 2023 | Jun 28, 2023 | $2.00 | 5.55% |
FAQ
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