Sunrise Resources Plc Stock Forecast
Is Sunrise Resources Plc stock still a buy after falling -14.71% on Tuesday?
(Updated on Sep 01, 2020)
The Sunrise Resources Plc stock price fell by -14.71% on the last day (Tuesday, 1st Sep 2020) from £0.0034 to £0.0029. During the last trading day the stock fluctuated 0% from a day low at £0.0029 to a day high of £0.0029. The price has risen in 5 of the last 10 days and is up by 190% over the past 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 -53 million shares and in total, 27 million shares were bought and sold for approximately £79.55 thousand.
Given the current short-term trend, the stock is expected to rise 101.55% during the next 3 months and, with a 90% probability hold a price between £0.0058 and £0.0078 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
SRES.L Signals & Forecast
The Sunrise Resources 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 £0.0019 and £0.0012. A breakdown below any of these levels will issue sell signals. 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 Tuesday, November 30, -1. 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 Sunrise Resources Plc stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved £0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%
Our recommended stop-loss: £0 (-5.00%) (Unable to calculate.)
Trading Expectations (SRES.L) For The Upcoming Trading Day Of Wednesday 2nd
With no support below and resistance from accumulated volume @ £0.0034, some £0.0005 (17.24%) from the current price of £0.0029, our system finds the risk reward not very attractive.
Is Sunrise Resources Plc stock A Buy?
Sunrise Resources 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.
Current score: 0.000 Hold/Accumulate Unchanged
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 Sunrise Resources Plc of Wednesday, September 2, 2020
Fair opening price September 2, 2020 | Current price |
---|---|
£0.0029 ( 0%) | £0.0029 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SRES.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0029 | . | |
R2 | 0.0029 | . | ||
R1 | 0.0029 | . | ||
Current price: | 0.0029 | |||
Support | S1 | 0.0029 | . | |
S2 | 0.0029 | . | ||
S3 | 0.0029 | . |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0.0034 | 17.24 % | ||
Current price | 0.0029 | |||
Support | S1 | 0 | . | |
S2 | 0 | . | ||
S3 | 0 | . |
FAQ
Click here for our free guide on how to buy Sunrise Resources Plc Stock.