Sareum Holdings Plc Stock Forecast
High volatility in Sareum Holdings Plc stock price on Tuesday which ended trading at £33.50
(Updated on Apr 23, 2024)
The Sareum Holdings Plc stock price gained 44.09% on the last trading day (Tuesday, 23rd Apr 2024), rising from £23.25 to £33.50. During the last trading day the stock fluctuated 43.16% from a day low at £23.75 to a day high of £34.00. The price has risen in 7 of the last 10 days and is up by 143.64% 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 million more shares were traded than the day before. In total, 6 million shares were bought and sold for approximately £196.78 million.
Given the current short-term trend, the stock is expected to fall -53.07% during the next 3 months and, with a 90% probability hold a price between £0.796 and £15.72 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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SAR.L Signals & Forecast
The Sareum Holdings Plc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at £22.89 and £20.39. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 03, 2024, and so far it has risen 226.83%. 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 Sareum Holdings Plc stock
Sareum Holdings Plc finds support from accumulated volume at £32.50 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved £10.25 between high and low, or 43.16%. For the last week, the stock has had daily average volatility of 31.35%.
The Sareum Holdings Plc stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: £32.39 (-3.32%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 84 and this increases the risk substantially. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (SAR.L) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Sareum Holdings Plc to open at £30.42, and during the day (based on 14 day Average True Range), to move between £29.29 and £37.71, which gives a possible trading interval of +/-£4.21 (+/-12.58%) up or down from last closing price. If Sareum Holdings Plc takes out the full calculated possible swing range there will be an estimated 25.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £32.50 (2.99%) than the resistance at £35.00 (4.48%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sareum Holdings Plc stock A Buy?
Sareum Holdings Plc 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: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Sareum Holdings Plc of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| £30.42 ( 9.20%) | £33.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SAR.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 40.67 | 21.39 % | |
| R2 | 36.75 | 9.70 % | ||
| R1 | 34.33 | 2.48 % | ||
| Current price: | 33.50 | |||
| Support | S1 | 26.50 | -20.89 % | |
| S2 | 24.08 | -28.11 % | ||
| S3 | 20.17 | -39.80 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 40.00 | 19.40 % | |
| R2 | 37.50 | 11.94 % | ||
| R1 | 35.00 | 4.48 % | ||
| Current price | 33.50 | |||
| Support | S1 | 32.50 | -2.99% | |
| S2 | 27.50 | -17.91% | ||
| S3 | 26.75 | -20.15% |
FAQ
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