Star Bulk Carriers Stock Forecast
Green day on Thursday for Star Bulk Carriers
(Updated on Apr 18, 2024)
The Star Bulk Carriers stock price gained 1.69% on the last trading day (Thursday, 18th Apr 2024), rising from $23.10 to $23.49. During the last trading day the stock fluctuated 2.77% from a day low at $22.87 to a day high of $23.51. The price has been going up and down for this period, and there has been a -1.3% loss for the last 2 weeks. Volume fell on the last day by -42 thousand shares and in total, 1 million shares were bought and sold for approximately $32.44 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 lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $23.10 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 10.93% during the next 3 months and, with a 90% probability hold a price between $25.63 and $28.90 at the end of this 3-month period.
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SBLK Signals & Forecast
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. The Star Bulk Carriers 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 $23.91. On a fall, the stock will find some support from the short-term average at $23.31. 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. A sell signal was issued from a pivot top point on Friday, March 08, 2024, and so far it has fallen -5.62%. 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).
Support, Risk & Stop-loss for Star Bulk Carriers stock
Star Bulk Carriers finds support from accumulated volume at $23.01 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 $0.633 between high and low, or 2.77%. For the last week the stock has had daily average volatility of 2.02%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SBLK) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Star Bulk Carriers Corp. to open at $23.29, and during the day (based on 14 day Average True Range), to move between $22.90 and $24.08, which gives a possible trading interval of +/-$0.592 (+/-2.52%) up or down from last closing price. If Star Bulk Carriers Corp. takes out the full calculated possible swing range there will be an estimated 5.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $23.85 (1.53%) than the support at $23.01 (2.04%), 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 Star Bulk Carriers Corp. stock A Buy?
The Star Bulk Carriers stock holds several negative signals and despite the positive trend, we believe Star Bulk Carriers will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.103 Sell Candidate Unchanged
Predicted Opening Price for Star Bulk Carriers Corp. of Friday, April 19, 2024
Fair opening price April 19, 2024 | Current price |
---|---|
$23.29 ( 0.86%) | $23.49 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SBLK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 23.92 | 1.84 % | |
R2 | 23.68 | 0.81 % | ||
R1 | 23.53 | 0.174 % | ||
Current price: | 23.49 | |||
Support | S1 | 23.05 | -1.88 % | |
S2 | 22.90 | -2.52 % | ||
S3 | 22.66 | -3.55 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 24.67 | 5.02 % | |
R2 | 23.89 | 1.70 % | ||
R1 | 23.85 | 1.53 % | ||
Current price | 23.49 | |||
Support | S1 | 23.01 | -2.04% | |
S2 | 21.86 | -6.94% | ||
S3 | 21.61 | -8.00% |
SBLK Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 12, 2024 | Mar 11, 2024 | Mar 28, 2024 | $0.450 | 1.89% |
2 | Nov 13, 2023 | Dec 04, 2023 | Dec 18, 2023 | $0.220 | 1.04% |
3 | Aug 03, 2023 | Aug 21, 2023 | Sep 07, 2023 | $0.400 | 2.30% |
4 | May 16, 2023 | Jun 06, 2023 | Jun 27, 2023 | $0.350 | 2.00% |
5 | Feb 16, 2023 | Feb 27, 2023 | Mar 14, 2023 | $0.600 | 2.67% |
FAQ
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