Syntec Optics Holdings, Inc. Stock Forecast
Big movements in Syntec Optics Holdings, Inc. stock price on Friday moving 26.04% between high and low
(Updated on Jun 28, 2024)
The Syntec Optics Holdings, Inc. stock price fell by -9.23% on the last day (Friday, 28th Jun 2024) from $3.36 to $3.05. During the last trading day the stock fluctuated 26.04% from a day low at $2.88 to a day high of $3.63. The price has fallen in 7 of the last 10 days but is still up by 11.31% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -1 million shares and in total, 307 thousand shares were bought and sold for approximately $937.59 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -22.31% during the next 3 months and, with a 90% probability hold a price between $1.54 and $2.96 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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OPTX Signals & Forecast
The Syntec Optics Holdings, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $2.84 and $2.90. 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 Wednesday, June 26, 2024, and so far it has fallen -20.78%. 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.
Support, Risk & Stop-loss for Syntec Optics Holdings, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $2.65 and $2.60. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Syntec Optics Holdings, Inc. finds support just below today's level at $2.65. If this is broken, then the next support from accumulated volume will be at $2.60 and $2.54.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.750 between high and low, or 26.04%. For the last week the stock has had daily average volatility of 43.92%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OPTX) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Syntec Optics Holdings, Inc. to open at $3.19, and during the day (based on 14 day Average True Range), to move between $2.31 and $3.79, which gives a possible trading interval of +/-$0.742 (+/-24.33%) up or down from last closing price. If Syntec Optics Holdings, Inc. takes out the full calculated possible swing range there will be an estimated 48.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.15 (3.28%) than the support at $2.65 (13.11%), 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 Syntec Optics Holdings, Inc. stock A Buy?
Syntec Optics Holdings, Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.025 Sell Candidate Downgraded
Predicted Opening Price for Syntec Optics Holdings, Inc. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $3.19 ( 4.48%) | $3.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OPTX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.94 | 29.07% |
| R2 | 3.65 | 19.68% |
| R1 | 3.47 | 13.87% |
| Price | 3.05 | |
| S1 | 2.90 | -4.91% |
| S2 | 2.72 | -10.72% |
| S3 | 2.44 | -20.11% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.36 | 10.16% |
| R2 | 3.16 | 3.61% |
| R1 | 3.15 | 3.28% |
| Price | 3.05 | |
| S1 | 2.65 | -13.11% |
| S2 | 2.60 | -14.75% |
| S3 | 2.54 | -16.58% |
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