The Schiehallion Fund Limited Trust Forecast
The Schiehallion Fund Limited trust upgraded from Hold/Accumulate to Buy Candidate after Tuesday trading session.
(Updated on Jul 02, 2024)
No changes to the price of The Schiehallion Fund Limited trust on the last trading day (Tuesday, 2nd Jul 2024). During the last trading day the trust fluctuated 2.85% from a day low at $0.99 to a day high of $1.02. The price has risen in 4 of the last 10 days and is up by 10.61% over the past 2 weeks.
The trust lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $0.99 will firstly indicate a stronger rate of rising. Given the current short-term trend, the trust is expected to rise 6.82% during the next 3 months and, with a 90% probability hold a price between $0.90 and $1.06 at the end of this 3-month period.
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MNTN.L Signals & Forecast
The The Schiehallion Fund Limited trust 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 $0.97 and $0.93. 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). 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 Monday, July 01, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. 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 The Schiehallion Fund Limited trust
On the downside, the trust finds support just below today's level from accumulated volume at $0.92 and $0.90. There is a natural risk involved when a trust is testing a support level, since if this is broken, the trust then may fall to the next support level. In this case, The Schiehallion Fund Limited finds support just below today's level at $0.92. If this is broken, then the next support from accumulated volume will be at $0.90 and $0.90.
This trust has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the trust moved $0.0282 between high and low, or 2.85%. For the last week the trust has had daily average volatility of 3.16%.
Our recommended stop-loss: $0.95 (-3.68%) (This trust has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (MNTN.L) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect The Schiehallion Fund Limited to open at $1.00, and during the day (based on 14 day Average True Range), to move between $0.95 and $1.03, which gives a possible trading interval of +/-$0.0389 (+/-3.93%) up or down from last closing price. If The Schiehallion Fund Limited takes out the full calculated possible swing range there will be an estimated 7.86% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.92, some $0.0700 (7.07%) from the current price of $0.99, our system finds the risk reward attractive.
Is The Schiehallion Fund Limited trust A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for The Schiehallion Fund Limited trust to perform well in the short-term. We have upgraded our analysis conclusion for this trust since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.590 Buy Candidate Upgraded
Predicted Opening Price for The Schiehallion Fund Limited of Wednesday, July 3, 2024
Fair opening price July 3, 2024 | Current price |
---|---|
$1.00 ( 0.95%) | $0.99 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MNTN.L
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 1.03 | 3.80% |
R2 | 1.02 | 2.71% |
R1 | 1.01 | 2.04% |
Price | 0.99 | |
S1 | 0.99 | -0.139% |
S2 | 0.98 | -0.81% |
S3 | 0.97 | -1.90% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 0 | - |
R1 | 0 | - |
Price | 0.99 | |
S1 | 0.92 | -7.07% |
S2 | 0.90 | -8.84% |
S3 | 0.90 | -9.60% |
FAQ
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