Sjova-Almennar tryggingar hf. Stock Forecast

Weaker technical forecast for Sjova-Almennar tryggingar hf. as stock downgraded to Sell Candidate.
(Updated on Apr 19, 2024)

SJOVA.IC Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 1.32%. 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). The volume rose on the last day while price remained unchanged. This may be an early warning and 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 Sjova-Almennar tryggingar hf. 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 40.31 Íkr. On a fall, the stock will find some support from the short-term average at 38.23 Íkr. 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 Sjova-Almennar tryggingar hf. stock

Sjova-Almennar tryggingar hf. finds support from accumulated volume at 38.10 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 0.400 Íkr between high and low, or 1.05%. For the last week, the stock has had daily average volatility of 0.684%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (SJOVA.IC) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect Sjova-Almennar tryggingar hf. to open at 38.40 Íkr, and during the day (based on 14 day Average True Range), to move between 37.98 Íkr and 38.82 Íkr, which gives a possible trading interval of +/-0.422 Íkr (+/-1.10%) up or down from last closing price. If Sjova-Almennar tryggingar hf. takes out the full calculated possible swing range there will be an estimated 2.20% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at 38.10 Íkr (0.78%) than the resistance at 43.60 Íkr (13.54%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Sjova-Almennar tryggingar hf. stock A Buy?

Sjova-Almennar tryggingar hf. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.906 Sell Candidate Downgraded

Predicted Opening Price for Sjova-Almennar tryggingar hf. of Monday, April 22, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.