Silverlake Axis Ltd Stock Forecast

Weaker technical forecast for Silverlake Axis Ltd as stock downgraded to Hold/Accumulate.
(Updated on Apr 30, 2024)

5CP.SI Signals & Forecast

The Silverlake Axis Ltd stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately S$0.267. On a fall, the stock will find some support from the long-term average at approximately S$0.235. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Friday, April 26, 2024, and so far it has fallen -5.45%. 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 Silverlake Axis Ltd stock

Silverlake Axis Ltd finds support from accumulated volume at S$0.255 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved S$0.0050 between high and low, or 1.92%. For the last week the stock has had daily average volatility of 3.01%.

Our recommended stop-loss: S$0.245 (-5.60%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (5CP.SI) For The Upcoming Trading Day Of Thursday 2nd

For the upcoming trading day on Thursday, 2nd we expect Silverlake Axis Ltd to open at S$0.262, and during the day (based on 14 day Average True Range), to move between S$0.250 and S$0.270, which gives a possible trading interval of +/-S$0.0105 (+/-4.02%) up or down from last closing price. If Silverlake Axis Ltd takes out the full calculated possible swing range there will be an estimated 8.04% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at S$0.255 (1.92%) than the resistance at S$0.270 (3.85%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Silverlake Axis Ltd stock A Buy?

Silverlake Axis Ltd 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: -0.896 Hold/Accumulate Downgraded

Predicted Opening Price for Silverlake Axis Ltd of Thursday, May 2, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.