Marel hf. Stock Forecast
Red day on Friday for Marel hf.
(Updated on Apr 26, 2024)
The Marel hf. stock price fell by -1.64% on the last day (Friday, 26th Apr 2024) from 488.00 Íkr to 480.00 Íkr. During the last trading day the stock fluctuated 1.48% from a day low at 473.00 Íkr to a day high of 480.00 Íkr. The price has fallen in 6 of the last 10 days and is down by -3.03% 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 -70 thousand shares and in total, 302 thousand shares were bought and sold for approximately 144.76 Íkr million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -2.45% during the next 3 months and, with a 90% probability hold a price between 437.74 Íkr and 494.58 Íkr at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
MAREL.IC Signals & Forecast
There are few to no technical positive signals at the moment. The Marel hf. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at 488.14 Íkr and 480.94 Íkr. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -5.88%. 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.
Support, Risk & Stop-loss for Marel hf. stock
Marel hf. finds support from accumulated volume at 478.00 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 7.00 Íkr between high and low, or 1.48%. For the last week, the stock has had daily average volatility of 1.49%.
Marel hf. is oversold on RSI14 (14). 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 (MAREL.IC) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Marel hf. to open at 477.67 Íkr, and during the day (based on 14 day Average True Range), to move between 470.82 Íkr and 489.18 Íkr, which gives a possible trading interval of +/-9.18 Íkr (+/-1.91%) up or down from last closing price. If Marel hf. takes out the full calculated possible swing range there will be an estimated 3.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 478.00 Íkr (0.42%) than the resistance at 493.00 Íkr (2.71%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Marel hf. will release earnings BMO on Monday, April 29, 2024. We will update the financials statements for Marel hf., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.16% in the first trading day after earnings release.
Is Marel hf. stock A Buy?
Marel 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: -3.203 Sell Candidate Unchanged
Predicted Opening Price for Marel hf. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| 477.67 Íkr ( 0.486%) | 480.00 Íkr |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MAREL.IC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 484.67 | 0.97 % | |
| R2 | 481.99 | 0.415 % | ||
| R1 | 480.34 | 0.0710 % | ||
| Current price: | 480.00 | |||
| Support | S1 | 474.99 | -1.04 % | |
| S2 | 473.34 | -1.39 % | ||
| S3 | 470.67 | -1.94 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 510.00 | 6.25 % | |
| R2 | 506.00 | 5.42 % | ||
| R1 | 493.00 | 2.71 % | ||
| Current price | 480.00 | |||
| Support | S1 | 478.00 | -0.417% | |
| S2 | 474.00 | -1.25% | ||
| S3 | 453.00 | -5.63% |
MAREL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 22, 2024 | Mar 22, 2024 | Mar 22, 2024 | 0 Íkr | 0% |
| 2 | Mar 24, 2023 | Mar 24, 2023 | Mar 24, 2023 | 0.0156 Íkr | 0.0028% |
| 3 | Mar 18, 2022 | Mar 18, 2022 | Mar 18, 2022 | 0.0512 Íkr | 0.0070% |
| 4 | Mar 19, 2021 | Mar 19, 2021 | Mar 19, 2021 | 0.0545 Íkr | 0.0064% |
| 5 | Mar 20, 2020 | Mar 20, 2020 | Mar 20, 2020 | 0.0579 Íkr | 0.0110% |
FAQ
Click here for our free guide on how to buy Marel hf. Stock.
