Screaming Eagle Acquisition Corp. Stock Forecast
Screaming Eagle Acquisition Corp. stock price ended at $10.18 on Friday, after losing 0%.
(Updated on May 24, 2024)
No changes to the price of Screaming Eagle Acquisition Corp. stock on the last trading day (Friday, 24th May 2024). During the last trading day the stock fluctuated 0% from a day low at $10.18 to a day high of $10.18. The price has been going up and down for this period, and there has been a -8.62% loss for the last 2 weeks.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $9.87 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Screaming Eagle Acquisition Corp. stock with a 90% probability to be traded between $9.77 and $12.37 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SCRM Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, May 13, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Screaming Eagle Acquisition Corp. 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 $10.18 and $10.68. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Screaming Eagle Acquisition Corp. stock
Screaming Eagle Acquisition Corp. finds support from accumulated volume at $9.90 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 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: $9.55 (-6.14%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (SCRM) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect Screaming Eagle Acquisition Corp. to open at $10.18, and during the day (based on 14 day Average True Range), to move between $9.81 and $10.55, which gives a possible trading interval of +/-$0.366 (+/-3.59%) up or down from last closing price. If Screaming Eagle Acquisition Corp. takes out the full calculated possible swing range there will be an estimated 7.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $9.90 (2.75%) than the resistance at $10.68 (4.91%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Screaming Eagle Acquisition Corp. stock A Buy?
Screaming Eagle Acquisition Corp. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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 Screaming Eagle Acquisition Corp. of Tuesday, May 28, 2024
Fair opening price May 28, 2024 | Current price |
---|---|
$10.18 ( 0%) | $10.18 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SCRM
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 10.18 | . | |
R2 | 10.18 | . | ||
R1 | 10.18 | . | ||
Current price: | 10.18 | |||
Support | S1 | 10.18 | . | |
S2 | 10.18 | . | ||
S3 | 10.18 | . |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 10.77 | 5.80 % | |
R2 | 10.74 | 5.50 % | ||
R1 | 10.68 | 4.91 % | ||
Current price | 10.18 | |||
Support | S1 | 9.90 | -2.75% | |
S2 | 0 | . | ||
S3 | 0 | . |
FAQ
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