Seventy Seven Energy Inc Stock Forecast
Stronger technical forecast for Seventy Seven Energy Inc stock price after Friday trading.
(Updated on Apr 19, 2024)
The Seventy Seven Energy Inc stock price gained 0.789% on the last trading day (Friday, 19th Apr 2024), rising from £1,647.50 to £1,660.50. During the last trading day the stock fluctuated 1.50% from a day low at £1,636.00 to a day high of £1,660.50. The price has been going up and down for this period, and there has been a 4.47% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 667 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately £3.67 billion.
The stockhas broken the falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is £1,645.04, a level that may pose a second chance to hit a runner. According to fan-theory £1,780.29 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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SSE.L Signals & Forecast
The Seventy Seven Energy Inc 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 £1,639.50 and £1,623.96. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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 Thursday, March 07, 2024, and so far it has fallen -0.479%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Seventy Seven Energy Inc stock
Seventy Seven Energy Inc finds support from accumulated volume at £1,619.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved £24.50 between high and low, or 1.50%. For the last week the stock has had daily average volatility of 1.83%.
Our recommended stop-loss: £1,593.31 (-4.05%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 29 days ago.)
Trading Expectations (SSE.L) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Seventy Seven Energy Inc to open at £1,652.33, and during the day (based on 14 day Average True Range), to move between £1,625.69 and £1,695.31, which gives a possible trading interval of +/-£34.81 (+/-2.10%) up or down from last closing price. If Seventy Seven Energy Inc takes out the full calculated possible swing range there will be an estimated 4.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £1,668.50 (0.48%) than the support at £1,619.00 (2.50%), 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 Seventy Seven Energy Inc stock A Buy?
Seventy Seven Energy Inc 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: -0.153 Hold/Accumulate Upgraded
Predicted Opening Price for Seventy Seven Energy Inc of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| £1,652.33 ( 0.492%) | £1,660.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SSE.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,676.83 | 0.98 % | |
| R2 | 1,667.47 | 0.420 % | ||
| R1 | 1,661.69 | 0.0718 % | ||
| Current price: | 1,660.50 | |||
| Support | S1 | 1,642.97 | -1.06 % | |
| S2 | 1,637.19 | -1.40 % | ||
| S3 | 1,627.83 | -1.97 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,739.50 | 4.76 % | |
| R2 | 1,698.00 | 2.26 % | ||
| R1 | 1,668.50 | 0.482 % | ||
| Current price | 1,660.50 | |||
| Support | S1 | 1,619.00 | -2.50% | |
| S2 | 1,609.50 | -3.07% | ||
| S3 | 1,564.00 | -5.81% |
SSE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 11, 2024 | Jan 11, 2024 | Jan 11, 2024 | £0 | 0% |
| 2 | Jul 27, 2023 | Jul 27, 2023 | Jul 27, 2023 | £67.70 | 3.98% |
| 3 | Nov 16, 2022 | Jan 12, 2023 | Mar 09, 2023 | £29.00 | 1.68% |
| 4 | May 25, 2022 | Jul 28, 2022 | Sep 22, 2022 | £60.20 | 3.50% |
| 5 | Nov 17, 2021 | Jan 13, 2022 | Mar 10, 2022 | £25.50 | 1.53% |
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