SilverBow Resorces Inc Stock Forecast
Evaluation of SilverBow Resorces Inc stock downgraded after the last trading session.
(Updated on May 10, 2024)
The SilverBow Resorces Inc stock price fell by -3.99% on the last day (Friday, 10th May 2024) from $34.07 to $32.71. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 4.84% from a day low at $32.68 to a day high of $34.26. The price has been going up and down for this period, and there has been a 2.12% 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 -32 thousand shares and in total, 239 thousand shares were bought and sold for approximately $7.83 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 13.81% during the next 3 months and, with a 90% probability hold a price between $33.79 and $43.50 at the end of this 3-month period.
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SBOW 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 SilverBow Resorces Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $32.91 and $32.76. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 19, 2024, and so far it has fallen -7.73%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for SilverBow Resorces Inc stock
SilverBow Resorces Inc finds support from accumulated volume at $31.94 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.58 between high and low, or 4.84%. For the last week, the stock has had daily average volatility of 4.06%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SBOW) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect SilverBow Resorces Inc to open at $33.22, and during the day (based on 14 day Average True Range), to move between $31.35 and $34.07, which gives a possible trading interval of +/-$1.36 (+/-4.15%) up or down from last closing price. If SilverBow Resorces Inc takes out the full calculated possible swing range there will be an estimated 8.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $31.94 (2.35%) than the resistance at $33.92 (3.70%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is SilverBow Resorces Inc stock A Buy?
The SilverBow Resorces Inc stock holds several negative signals and despite the positive trend, we believe SilverBow Resorces Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.552 Sell Candidate Downgraded
Predicted Opening Price for SilverBow Resorces Inc of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $33.22 ( 1.55%) | $32.71 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SBOW
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 34.80 | 6.38 % | |
| R2 | 34.19 | 4.54 % | ||
| R1 | 33.82 | 3.40 % | ||
| Current price: | 32.71 | |||
| Support | S1 | 32.61 | -0.296 % | |
| S2 | 32.24 | -1.44 % | ||
| S3 | 31.64 | -3.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 35.45 | 8.38 % | |
| R2 | 35.15 | 7.46 % | ||
| R1 | 33.92 | 3.70 % | ||
| Current price | 32.71 | |||
| Support | S1 | 31.94 | -2.35% | |
| S2 | 31.84 | -2.66% | ||
| S3 | 30.73 | -6.05% |
FAQ
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