Salem Media Group Stock Forecast
High volatility in Salem Media Group stock price on Tuesday which ended trading at $0.350
(Updated on May 07, 2024)
The Salem Media Group stock price gained 4.51% on the last trading day (Tuesday, 7th May 2024), rising from $0.335 to $0.350. During the last trading day the stock fluctuated 11.30% from a day low at $0.345 to a day high of $0.384. The price has been going up and down for this period, and there has been a -12.04% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 20 thousand more shares were traded than the day before. In total, 28 thousand shares were bought and sold for approximately $9.72 thousand.
The stock lies in the middle of a very wide and weak 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 8.89% during the next 3 months and, with a 90% probability hold a price between $0.348 and $0.471 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.
SALM Signals & Forecast
Salem Media Group has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Salem Media Group 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 $0.363 and $0.376. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 03, 2024, and so far it has fallen -12.37%. 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).
Support, Risk & Stop-loss for Salem Media Group stock
Salem Media Group finds support from accumulated volume at $0.340 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0390 between high and low, or 11.30%. For the last week, the stock has had daily average volatility of 12.39%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SALM) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Salem Media Group to open at $0.360, and during the day (based on 14 day Average True Range), to move between $0.303 and $0.397, which gives a possible trading interval of +/-$0.0473 (+/-13.52%) up or down from last closing price. If Salem Media Group takes out the full calculated possible swing range there will be an estimated 27.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.340 (2.88%) than the resistance at $0.365 (4.23%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Salem Media Group stock A Buy?
The Salem Media Group stock holds several negative signals and despite the positive trend, we believe Salem Media Group will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.815 Sell Candidate Unchanged
Predicted Opening Price for Salem Media Group of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $0.360 ( 2.74%) | $0.350 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SALM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.399 | 13.88 % | |
| R2 | 0.384 | 9.63 % | ||
| R1 | 0.375 | 7.00 % | ||
| Current price: | 0.350 | |||
| Support | S1 | 0.345 | -1.51 % | |
| S2 | 0.336 | -4.14 % | ||
| S3 | 0.321 | -8.40 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.380 | 8.54 % | |
| R2 | 0.379 | 8.23 % | ||
| R1 | 0.365 | 4.23 % | ||
| Current price | 0.350 | |||
| Support | S1 | 0.340 | -2.88% | |
| S2 | 0.334 | -4.60% | ||
| S3 | 0.330 | -5.74% |
SALM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 10, 2020 | Mar 23, 2020 | Mar 31, 2020 | $0.0250 | 2.91% |
| 2 | Dec 10, 2019 | Dec 20, 2019 | Dec 30, 2019 | $0.0250 | 1.72% |
| 3 | Sep 12, 2019 | Sep 20, 2019 | Sep 30, 2019 | $0.0650 | 4.25% |
| 4 | May 14, 2019 | Jun 13, 2019 | Jun 28, 2019 | $0.0650 | 2.67% |
| 5 | Mar 07, 2019 | Mar 18, 2019 | Mar 29, 2019 | $0.0650 | 2.54% |
FAQ
Click here for our free guide on how to buy Salem Media Group Stock.
