SIMEC Atlantis Energy Ltd. Stock Forecast
Red day on Thursday for SIMEC Atlantis Energy Ltd.
(Updated on May 09, 2024)
No changes to the price of SIMEC Atlantis Energy Ltd. stock on the last trading day (Thursday, 9th May 2024). During the last trading day the stock fluctuated 0% from a day low at £0.85 to a day high of £0.85. The price has been going up and down for this period, and there has been a 0% change for the last 2 weeks.
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 £0.90 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 -21.25% during the next 3 months and, with a 90% probability hold a price between £0.500 and £0.705 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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SAE.L Signals & Forecast
The SIMEC Atlantis Energy Ltd. 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 £0.81 and £0.85. 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 Wednesday, May 08, 2024, and so far it has fallen 0%. 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 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 SIMEC Atlantis Energy Ltd. stock
SIMEC Atlantis Energy Ltd. finds support from accumulated volume at £0.82 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved £0 between high and low, or 0%. For the last week the stock has had daily average volatility of 8.80%
Our recommended stop-loss: £0.82 (-3.88%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (SAE.L) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect SIMEC Atlantis Energy Ltd. to open at £0.85, and during the day (based on 14 day Average True Range), to move between £0.753 and £0.95, which gives a possible trading interval of +/-£0.0974 (+/-11.46%) up or down from last closing price. If SIMEC Atlantis Energy Ltd. takes out the full calculated possible swing range there will be an estimated 22.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £0.88 (2.94%) than the support at £0.82 (3.53%), 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 SIMEC Atlantis Energy Ltd. stock A Buy?
SIMEC Atlantis Energy Ltd. 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.
Current score: -0.297 Hold/Accumulate Unchanged
Predicted Opening Price for SIMEC Atlantis Energy Ltd. of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| £0.85 ( 0%) | £0.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SAE.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.85 | . | |
| R2 | 0.85 | . | ||
| R1 | 0.85 | . | ||
| Current price: | 0.85 | |||
| Support | S1 | 0.85 | . | |
| S2 | 0.85 | . | ||
| S3 | 0.85 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.05 | 23.53 % | |
| R2 | 1.00 | 17.65 % | ||
| R1 | 0.88 | 2.94 % | ||
| Current price | 0.85 | |||
| Support | S1 | 0.82 | -3.53% | |
| S2 | 0.80 | -5.88% | ||
| S3 | 0.775 | -8.82% |
FAQ
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