Syntec Optics Holdings, Inc. Stock Forecast
Big movements in Syntec Optics Holdings, Inc. stock price on Friday moving 36.87% between high and low
(Updated on Jun 28, 2024)
The Syntec Optics Holdings, Inc. stock price fell by -3.91% on the last day (Friday, 28th Jun 2024) from $0.164 to $0.157. During the last trading day the stock fluctuated 36.87% from a day low at $0.115 to a day high of $0.157. The price has fallen in 5 of the last 10 days but is still up by 57.56% 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 -22 thousand shares and in total, 3 thousand shares were bought and sold for approximately $517.06 .
The stock lies the upper part of a very wide and falling 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 $0.162 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -42.62% during the next 3 months and, with a 90% probability hold a price between $0.0328 and $0.0927 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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OPTXW 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 $0.109 and $0.133. 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 Thursday, June 27, 2024, and so far it has fallen -3.91%. 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 Syntec Optics Holdings, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.148 and $0.147. 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 $0.148. If this is broken, then the next support from accumulated volume will be at $0.147 and $0.147.
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 $0.0424 between high and low, or 36.87%. For the last week the stock has had daily average volatility of 43.86%.
Our recommended stop-loss: $0.149 (-5.13%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (OPTXW) 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 $0.143, and during the day (based on 14 day Average True Range), to move between $0.125 and $0.190, which gives a possible trading interval of +/-$0.0322 (+/-20.46%) 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 40.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.148 (5.84%) than the resistance at $0.177 (12.26%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Syntec Optics Holdings, Inc. stock A Buy?
Syntec Optics Holdings, Inc. 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: 0.804 Hold/Accumulate Downgraded
Predicted Opening Price for Syntec Optics Holdings, Inc. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $0.143 ( 8.98%) | $0.157 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OPTXW
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.186 | 17.96% |
| R2 | 0.169 | 7.67% |
| R1 | 0.159 | 1.31% |
| Price | 0.157 | |
| S1 | 0.127 | -19.27% |
| S2 | 0.117 | -25.63% |
| S3 | 0.101 | -35.92% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.185 | 17.82% |
| R2 | 0.180 | 14.04% |
| R1 | 0.177 | 12.26% |
| Price | 0.157 | |
| S1 | 0.148 | -5.84% |
| S2 | 0.147 | -6.73% |
| S3 | 0.147 | -6.93% |
FAQ
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