Sprott Focus Trust Stock Forecast
Stronger technical forecast for Sprott Focus Trust stock price after Thursday trading.
(Updated on May 02, 2024)
The Sprott Focus Trust stock price gained 1.26% on the last trading day (Thursday, 2nd May 2024), rising from $7.57 to $7.66. During the last trading day the stock fluctuated 1.32% from a day low at $7.58 to a day high of $7.68. The price has risen in 6 of the last 10 days and is up by 0.16% over the past 2 weeks. Volume fell on the last day by -3 thousand shares and in total, 27 thousand shares were bought and sold for approximately $203.57 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $7.57 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Sprott Focus Trust stock with a 90% probability to be traded between $7.61 and $8.14 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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FUND Signals & Forecast
There are mixed signals in the stock today. The Sprott Focus Trust stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $7.77. On a fall, the stock will find some support from the short-term average at $7.64. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 1.26%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Sprott Focus Trust stock
Sprott Focus Trust finds support from accumulated volume at $7.65 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 controlled movements and therefore the general risk is considered 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 $0.1000 between high and low, or 1.32%. For the last week the stock has had daily average volatility of 0.92%.
Our recommended stop-loss: $7.26 (-5.20%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (FUND) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Sprott Focus Trust to open at $7.64, and during the day (based on 14 day Average True Range), to move between $7.57 and $7.75, which gives a possible trading interval of +/-$0.0926 (+/-1.21%) up or down from last closing price. If Sprott Focus Trust takes out the full calculated possible swing range there will be an estimated 2.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.65 (0.13%) than the resistance at $7.70 (0.52%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Sprott Focus Trust will release earnings BMO on Friday, May 10, 2024. We will update the financials statements for Sprott Focus Trust, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 1.81% in the first trading day after earnings release.
Is Sprott Focus Trust stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Sprott Focus Trust stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.284 Buy Candidate Upgraded
Predicted Opening Price for Sprott Focus Trust of Friday, May 3, 2024
Fair opening price May 3, 2024 | Current price |
---|---|
$7.64 ( 0.261%) | $7.66 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FUND
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 7.74 | 1.04 % | |
R2 | 7.70 | 0.546 % | ||
R1 | 7.68 | 0.238 % | ||
Current price: | 7.66 | |||
Support | S1 | 7.60 | -0.760 % | |
S2 | 7.58 | -1.07 % | ||
S3 | 7.54 | -1.57 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 8.04 | 4.96 % | |
R2 | 7.94 | 3.66 % | ||
R1 | 7.70 | 0.522 % | ||
Current price | 7.66 | |||
Support | S1 | 7.65 | -0.131% | |
S2 | 7.64 | -0.261% | ||
S3 | 7.61 | -0.653% |
FUND Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 04, 2024 | Mar 13, 2024 | Mar 28, 2024 | $0.129 | 1.60% |
2 | Dec 04, 2023 | Dec 13, 2023 | Dec 28, 2023 | $0.127 | 1.58% |
3 | Sep 05, 2023 | Sep 14, 2023 | Sep 29, 2023 | $0.124 | 1.65% |
4 | Jun 02, 2023 | Jun 09, 2023 | Jun 27, 2023 | $0.122 | 1.56% |
5 | Mar 02, 2023 | Mar 10, 2023 | Dec 28, 2018 | $0.125 | 2.17% |
FAQ
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