Sherritt International Corporation Stock Forecast
Sherritt International Corporation stock price up 1.52% on Tuesday
(Updated on May 07, 2024)
The Sherritt International Corporation stock price gained 1.52% on the last trading day (Tuesday, 7th May 2024), rising from $0.330 to $0.335. During the last trading day the stock fluctuated 1.52% from a day low at $0.330 to a day high of $0.335. The price has risen in 5 of the last 10 days and is up by 1.52% over the past 2 weeks. Volume fell on the last day by -17 thousand shares and in total, 42 thousand shares were bought and sold for approximately $14.08 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 in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 19.35% during the next 3 months and, with a 90% probability hold a price between $0.359 and $0.453 at the end of this 3-month period.
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S.TO Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -6.94%. 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 not be. The very low volume increases the risk and reduces the other technical signals issued. The Sherritt International Corporation 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 $0.324 and $0.314. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Sherritt International Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.315 and $0.290. 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, Sherritt International Corporation finds support just below today's level at $0.315. If this is broken, then the next support from accumulated volume will be at $0.290 and $0.280.
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 $0.0050 between high and low, or 1.52%. For the last week the stock has had daily average volatility of 3.51%.
Our recommended stop-loss: $0.323 (-3.48%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (S.TO) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Sherritt International Corporation to open at $0.333, and during the day (based on 14 day Average True Range), to move between $0.321 and $0.349, which gives a possible trading interval of +/-$0.0142 (+/-4.23%) up or down from last closing price. If Sherritt International Corporation takes out the full calculated possible swing range there will be an estimated 8.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.345 (2.99%) than the support at $0.315 (5.97%), 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 Sherritt International Corporation stock 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 Sherritt International Corporation stock to perform well in the short-term.
Current score: 3.222 Buy Candidate Unchanged
Predicted Opening Price for Sherritt International Corporation of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $0.333 ( 0.498%) | $0.335 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for S.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.338 | 1.00 % | |
| R2 | 0.336 | 0.425 % | ||
| R1 | 0.335 | 0.0726 % | ||
| Current price: | 0.335 | |||
| Support | S1 | 0.331 | -1.07 % | |
| S2 | 0.330 | -1.42 % | ||
| S3 | 0.328 | -1.99 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.360 | 7.46 % | |
| R2 | 0.350 | 4.48 % | ||
| R1 | 0.345 | 2.99 % | ||
| Current price | 0.335 | |||
| Support | S1 | 0.315 | -5.97% | |
| S2 | 0.290 | -13.43% | ||
| S3 | 0.280 | -16.42% |
S Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 16, 2015 | Jun 26, 2015 | Jul 14, 2015 | $0.0100 | 0.565% |
| 2 | Feb 11, 2015 | Mar 27, 2015 | Apr 14, 2015 | $0.0100 | 0.467% |
| 3 | Nov 12, 2014 | Dec 29, 2014 | Jan 14, 2015 | $0.0100 | 0.478% |
| 4 | Sep 19, 2014 | Sep 26, 2014 | Oct 14, 2014 | $0.0100 | 0.362% |
| 5 | Jun 18, 2014 | Jun 26, 2014 | Jul 14, 2014 | $0.0100 | 0.218% |
FAQ
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