Grupo Hotelero Santa Fe, S.A.B. de C.V. Stock Forecast

Weaker technical forecast for Grupo Hotelero Santa Fe, S.A.B. de C.V. as stock downgraded to Hold/Accumulate.
(Updated on Jun 21, 2024)

HOTEL.MX Signals & Forecast

The Grupo Hotelero Santa Fe, S.A.B. de C.V. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $3.63 and $3.54. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. 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 Thursday, June 20, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Grupo Hotelero Santa Fe, S.A.B. de C.V. stock

Grupo Hotelero Santa Fe, S.A.B. de C.V. finds support from accumulated volume at $3.67 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 with good liquidity the risk is considered very low in this 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 0.0556%.

The Grupo Hotelero Santa Fe, S.A.B. de C.V. stock is extremely overbought on RSI14 (83). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: $3.58 (-3.34%) (This stock has low daily movements and this gives low risk. The RSI14 is 83 and this increases the risk substantially. There is a sell signal from a pivot top found 29 days ago.)

Trading Expectations (HOTEL.MX) For The Upcoming Trading Day Of Monday 24th

For the upcoming trading day on Monday, 24th we expect Grupo Hotelero Santa Fe, S.A.B. de C.V. to open at $3.70, and during the day (based on 14 day Average True Range), to move between $3.66 and $3.74, which gives a possible trading interval of +/-$0.0450 (+/-1.22%) up or down from last closing price. If Grupo Hotelero Santa Fe, S.A.B. de C.V. takes out the full calculated possible swing range there will be an estimated 2.43% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $3.72 (0.54%) than the support at $3.67 (0.81%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Grupo Hotelero Santa Fe, S.A.B. de C.V. stock A Buy?

Grupo Hotelero Santa Fe, S.A.B. de C.V. 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: -0.871 Hold/Accumulate Downgraded

Predicted Opening Price for Grupo Hotelero Santa Fe, S.A.B. de C.V. of Monday, June 24, 2024

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