Stingray Group Inc Stock Forecast
Stingray Group Inc stock price ended at $7.58 on Friday, after gaining 3.55%.
(Updated on Jun 28, 2024)
The Stingray Group Inc stock price gained 3.55% on the last trading day (Friday, 28th Jun 2024), rising from $7.32 to $7.58. During the last trading day the stock fluctuated 2.43% from a day low at $7.40 to a day high of $7.58. The price has fallen in 5 of the last 10 days and is down by -0.52% for this period. Volume fell on the last day by -30 thousand shares and in total, 24 thousand shares were bought and sold for approximately $185.16 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 lies the upper part of a 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 $7.71 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 -5.41% during the next 3 months and, with a 90% probability hold a price between $6.45 and $7.29 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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RAY-A.TO Signals & Forecast
The Stingray Group 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 $7.36 and $7.44. A breakdown below any of these levels will issue sell signals. 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 Tuesday, June 11, 2024, and so far it has fallen -2.82%. Further fall is indicated until a new bottom pivot has been found. 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.
Support, Risk & Stop-loss for Stingray Group Inc stock
Stingray Group Inc finds support from accumulated volume at $7.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.180 between high and low, or 2.43%. For the last week the stock has had daily average volatility of 2.38%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RAY-A.TO) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Stingray Group Inc to open at $7.52, and during the day (based on 14 day Average True Range), to move between $7.37 and $7.79, which gives a possible trading interval of +/-$0.214 (+/-2.82%) up or down from last closing price. If Stingray Group Inc takes out the full calculated possible swing range there will be an estimated 5.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.50 (1.06%) than the resistance at $7.80 (2.90%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Stingray Group Inc stock A Buy?
Stingray Group Inc holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -1.086 Sell Candidate Unchanged
Predicted Opening Price for Stingray Group Inc of Tuesday, July 2, 2024
Fair opening price July 2, 2024 | Current price |
---|---|
$7.52 ( 0.792%) | $7.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RAY-A.TO
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 7.70 | 1.58% |
R2 | 7.63 | 0.676% |
R1 | 7.59 | 0.116% |
Price | 7.58 | |
S1 | 7.45 | -1.70% |
S2 | 7.41 | -2.26% |
S3 | 7.34 | -3.17% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 8.05 | 6.20% |
R2 | 7.89 | 4.09% |
R1 | 7.80 | 2.90% |
Price | 7.58 | |
S1 | 7.50 | -1.06% |
S2 | 7.45 | -1.72% |
S3 | 7.35 | -3.03% |
RAY-A Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 31, 2024 | May 31, 2024 | Jun 14, 2024 | $0.0750 | 0.98% |
2 | May 30, 2024 | May 30, 2024 | May 30, 2024 | $0 | 0% |
3 | Feb 28, 2024 | Feb 28, 2024 | Feb 28, 2024 | $0.0750 | 1.02% |
4 | Nov 29, 2023 | Nov 29, 2023 | Dec 15, 2023 | $0.0750 | 1.38% |
5 | Aug 30, 2023 | Aug 30, 2023 | Sep 15, 2023 | $0.0750 | 1.39% |
FAQ
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