Seagate Technology PLC Stock Forecast
Volatile ride for Seagate Technology PLC stock price on Thursday moving between £1.06 and £1.31
(Updated on Apr 25, 2024)
The Seagate Technology PLC stock price fell by -6.04% on the last day (Thursday, 25th Apr 2024) from £1.33 to £1.25. During the last trading day the stock fluctuated 23.50% from a day low at £1.06 to a day high of £1.31. The price has fallen in 6 of the last 10 days and is down by -20.95% for this period. Volume has increased on the last day by 6 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 9 million shares were bought and sold for approximately £11.18 million.
The stockhas broken the very wide and 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 £1.11, a level that may pose a second chance to hit a runner. According to fan-theory £3.26 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. 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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STX.L Signals & Forecast
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. The Seagate Technology PLC stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at £1.41 and £1.89. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 08, 2024, and so far it has fallen -50.69%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Seagate Technology 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.
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 £0.250 between high and low, or 23.50%. For the last week, the stock has had daily average volatility of 9.85%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (STX.L) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Seagate Technology PLC to open at £1.21, and during the day (based on 14 day Average True Range), to move between £1.11 and £1.38, which gives a possible trading interval of +/-£0.139 (+/-11.13%) up or down from last closing price. If Seagate Technology PLC takes out the full calculated possible swing range there will be an estimated 22.25% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ £1.33, some £0.0800 (6.43%) from the current price of £1.25, our system finds the risk reward not very attractive.
Earnings coming up
Seagate Technology PLC will release earnings BMO on Tuesday, April 30, 2024. We will update the financials statements for Seagate Technology PLC, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.87% in the first trading day after earnings release.
Is Seagate Technology PLC stock A Buy?
Seagate Technology PLC holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -7.684 Strong Sell Candidate Unchanged
Predicted Opening Price for Seagate Technology PLC of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| £1.21 ( 3.09%) | £1.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for STX.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.46 | 16.97 % | |
| R2 | 1.36 | 9.31 % | ||
| R1 | 1.30 | 4.57 % | ||
| Current price: | 1.25 | |||
| Support | S1 | 1.11 | -10.75 % | |
| S2 | 1.05 | -15.48 % | ||
| S3 | 0.96 | -23.14 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.53 | 22.49 % | |
| R2 | 1.48 | 18.88 % | ||
| R1 | 1.33 | 6.43 % | ||
| Current price | 1.25 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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