Sable Resources Ltd. Stock Forecast
High volatility in Sable Resources Ltd. stock price on Friday which ended trading at $0.0550
(Updated on May 17, 2024)
The Sable Resources Ltd. stock price fell by -8.33% on the last day (Friday, 17th May 2024) from $0.0600 to $0.0550. During the last trading day the stock fluctuated 20.00% from a day low at $0.0500 to a day high of $0.0600. The price has been going up and down for this period, and there has been a 0% change for the last 2 weeks. Volume has increased on the last day by 205 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 262 thousand shares were bought and sold for approximately $14.42 thousand.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0515 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 27.50% during the next 3 months and, with a 90% probability hold a price between $0.0657 and $0.0907 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
SAE.V Signals & Forecast
There are few to no technical positive signals at the moment. The Sable Resources Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.0557 and $0.0581. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 15, 2024, and so far it has fallen -15.38%. 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). Sable Resources Ltd. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Sable Resources Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0500 and $0.0450. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0.0450 may give a huge drop in the stock price.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0100 between high and low, or 20.00%. For the last week, the stock has had daily average volatility of 13.64%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SAE.V) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Sable Resources Ltd. to open at $0.0550, and during the day (based on 14 day Average True Range), to move between $0.0498 and $0.0602, which gives a possible trading interval of +/-$0.0052 (+/-9.43%) up or down from last closing price. If Sable Resources Ltd. takes out the full calculated possible swing range there will be an estimated 18.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0600 (9.09%) than the support at $0.0500 (9.09%), 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 Sable Resources Ltd. stock A Buy?
The Sable Resources Ltd. stock holds several negative signals and despite the positive trend, we believe Sable Resources Ltd. will perform weakly in the next couple of days or weeks. Therefore, we 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: -2.901 Sell Candidate Downgraded
Predicted Opening Price for Sable Resources Ltd. of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $0.0550 ( 0%) | $0.0550 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SAE.V
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0650 | 18.18 % | |
| R2 | 0.0612 | 11.24 % | ||
| R1 | 0.0588 | 6.95 % | ||
| Current price: | 0.0550 | |||
| Support | S1 | 0.0512 | -6.95 % | |
| S2 | 0.0488 | -11.24 % | ||
| S3 | 0.0450 | -18.18 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0.0650 | 18.18 % | ||
| R1 | 0.0600 | 9.09 % | ||
| Current price | 0.0550 | |||
| Support | S1 | 0.0500 | -9.09% | |
| S2 | 0.0450 | -18.18% | ||
| S3 | 0 | . |
FAQ
Click here for our free guide on how to buy Sable Resources Ltd. Stock.
