Safety Insurance Group Stock Forecast
Safety Insurance Group stock price ended at $82.19 on Thursday, after gaining 0.514%.
(Updated on Mar 28, 2024)
The Safety Insurance Group stock price gained 0.514% on the last trading day (Thursday, 28th Mar 2024), rising from $81.77 to $82.19. During the last trading day the stock fluctuated 1.34% from a day low at $82.05 to a day high of $83.15. The price has risen in 6 of the last 10 days and is up by 2.43% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 375 more shares were traded than the day before. In total, 38 thousand shares were bought and sold for approximately $3.10 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 5.39% during the next 3 months and, with a 90% probability hold a price between $84.14 and $94.06 at the end of this 3-month period.
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SAFT Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, March 05, 2024, and so far it has risen 4.61%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Safety Insurance Group stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $82.30. On a fall, the stock will find some support from the short-term average at $81.02. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Safety Insurance Group stock
On the downside, the stock finds support just below today's level from accumulated volume at $77.72 and $75.77. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Safety Insurance Group finds support just below today's level at $77.72. If this is broken, then the next support from accumulated volume will be at $75.77 and $74.30.
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 $1.10 between high and low, or 1.34%. For the last week the stock has had daily average volatility of 1.08%.
Our recommended stop-loss: $77.75 (-5.40%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (SAFT) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Safety Insurance Group to open at $82.46, and during the day (based on 14 day Average True Range), to move between $80.71 and $83.67, which gives a possible trading interval of +/-$1.48 (+/-1.81%) up or down from last closing price. If Safety Insurance Group takes out the full calculated possible swing range there will be an estimated 3.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $82.43 (0.29%) than the support at $77.72 (5.44%), 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 Safety Insurance Group stock A Buy?
Safety Insurance Group holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.592 Hold/Accumulate Unchanged
Predicted Opening Price for Safety Insurance Group of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$82.46 ( 0.333%) | $82.19 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SAFT
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 83.56 | 1.67 % | |
R2 | 83.14 | 1.16 % | ||
R1 | 82.88 | 0.84 % | ||
Current price: | 82.19 | |||
Support | S1 | 82.04 | -0.179 % | |
S2 | 81.78 | -0.495 % | ||
S3 | 81.36 | -1.01 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 84.97 | 3.38 % | |
R2 | 83.25 | 1.29 % | ||
R1 | 82.43 | 0.292 % | ||
Current price | 82.19 | |||
Support | S1 | 77.72 | -5.44% | |
S2 | 75.77 | -7.81% | ||
S3 | 74.30 | -9.60% |
SAFT Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 29, 2024 | Feb 29, 2024 | Mar 15, 2024 | $0.90 | 1.09% |
2 | Nov 01, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.90 | 1.17% |
3 | Aug 02, 2023 | Aug 31, 2023 | Sep 15, 2023 | $0.90 | 1.30% |
4 | May 03, 2023 | May 31, 2023 | Jun 15, 2023 | $0.90 | 1.24% |
5 | Feb 15, 2023 | Feb 28, 2023 | Mar 15, 2023 | $0.90 | 1.23% |
FAQ
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