Ship Finance International Limited Stock Forecast
Ship Finance International Limited stock upgraded to Buy Candidate.
(Updated on Apr 25, 2024)
The Ship Finance International Limited stock price gained 0.84% on the last trading day (Thursday, 25th Apr 2024), rising from $13.03 to $13.14. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.43% from a day low at $12.96 to a day high of $13.14. The price has risen in 6 of the last 10 days and is up by 2.66% 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, 3 thousand more shares were traded than the day before. In total, 419 thousand shares were bought and sold for approximately $5.51 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 5.64% during the next 3 months and, with a 90% probability hold a price between $13.23 and $14.83 at the end of this 3-month period.
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SFL Signals & Forecast
Mostly positive signals in the chart today. The Ship Finance International Limited 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 $12.82 and $13.03. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 5.46%. 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.
Support, Risk & Stop-loss for Ship Finance International Limited stock
Ship Finance International Limited finds support from accumulated volume at $13.04 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 $0.185 (1.43%) between high and low. For the last week, the stock has had daily average volatility of 1.84%.
Our recommended stop-loss: $12.58 (-4.26%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (SFL) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Ship Finance International Limited to open at $13.08, and during the day (based on 14 day Average True Range), to move between $12.90 and $13.38, which gives a possible trading interval of +/-$0.236 (+/-1.79%) up or down from last closing price. If Ship Finance International Limited takes out the full calculated possible swing range there will be an estimated 3.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $13.18 (0.30%) than the support at $13.04 (0.76%), 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 Ship Finance International Limited 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 Ship Finance International Limited 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: 3.734 Buy Candidate Upgraded
Predicted Opening Price for Ship Finance International Limited of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $13.08 ( 0.469%) | $13.14 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SFL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.26 | 0.94 % | |
| R2 | 13.19 | 0.401 % | ||
| R1 | 13.15 | 0.0685 % | ||
| Current price: | 13.14 | |||
| Support | S1 | 13.01 | -1.01 % | |
| S2 | 12.96 | -1.34 % | ||
| S3 | 12.89 | -1.88 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.41 | 2.05 % | |
| R2 | 13.39 | 1.90 % | ||
| R1 | 13.18 | 0.304 % | ||
| Current price | 13.14 | |||
| Support | S1 | 13.04 | -0.761% | |
| S2 | 12.76 | -2.89% | ||
| S3 | 11.89 | -9.51% |
SFL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 14, 2024 | Mar 14, 2024 | Mar 28, 2024 | $0.260 | 1.97% |
| 2 | Nov 08, 2023 | Dec 14, 2023 | Dec 28, 2023 | $0.250 | 2.20% |
| 3 | Aug 17, 2023 | Sep 13, 2023 | Sep 29, 2023 | $0.240 | 2.15% |
| 4 | May 15, 2023 | Jun 15, 2023 | Jun 30, 2023 | $0.240 | 2.57% |
| 5 | Feb 15, 2023 | Mar 14, 2023 | Mar 30, 2023 | $0.240 | 2.56% |
FAQ
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