Syn hf. Stock Forecast
Syn hf. stock upgraded to Hold/Accumulate.
(Updated on Apr 23, 2024)
The Syn hf. stock price fell by -0.429% on the last day (Tuesday, 23rd Apr 2024) from 46.60 Íkr to 46.40 Íkr. During the last trading day the stock fluctuated 3.02% from a day low at 46.40 Íkr to a day high of 47.80 Íkr. The price has been going up and down for this period, and there has been a 1.31% gain for the last 2 weeks. 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 -3 million shares and in total, 966 shares were bought and sold for approximately 44.82 Íkr thousand.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at 47.49 Íkr will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -6.42% during the next 3 months and, with a 90% probability hold a price between 35.50 Íkr and 44.45 Íkr at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SYN.IC Signals & Forecast
The Syn hf. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately 47.13 Íkr. On a fall, the stock will find some support from the long-term average at approximately 43.42 Íkr. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -2.52%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Syn hf. stock
Syn hf. finds support from accumulated volume at 45.60 Íkr and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved 1.40 Íkr between high and low, or 3.02%. For the last week the stock has had daily average volatility of 1.68%.
Our recommended stop-loss: 44.35 Íkr (-4.43%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (SYN.IC) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Syn hf. to open at 46.87 Íkr, and during the day (based on 14 day Average True Range), to move between 45.64 Íkr and 47.16 Íkr, which gives a possible trading interval of +/-0.759 Íkr (+/-1.64%) up or down from last closing price. If Syn hf. takes out the full calculated possible swing range there will be an estimated 3.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 46.60 Íkr (0.43%) than the support at 45.60 Íkr (1.72%), 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 Syn hf. stock A Buy?
Syn hf. 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.900 Hold/Accumulate Upgraded
Predicted Opening Price for Syn hf. of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| 46.87 Íkr ( 1.01%) | 46.40 Íkr |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SYN.IC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 48.27 | 4.02 % | |
| R2 | 47.73 | 2.87 % | ||
| R1 | 47.40 | 2.16 % | ||
| Current price: | 46.40 | |||
| Support | S1 | 46.33 | -0.147 % | |
| S2 | 46.00 | -0.86 % | ||
| S3 | 45.47 | -2.01 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 48.00 | 3.45 % | |
| R2 | 47.80 | 3.02 % | ||
| R1 | 46.60 | 0.431 % | ||
| Current price | 46.40 | |||
| Support | S1 | 45.60 | -1.72% | |
| S2 | 43.20 | -6.90% | ||
| S3 | 41.60 | -10.34% |
SYN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 20, 2015 | Mar 20, 2015 | Mar 20, 2015 | 0.650 Íkr | 1.70% |
FAQ
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