Sangoma Technologies Corporation Stock Forecast
Green day on Tuesday for Sangoma Technologies Corporation stock after gaining 1.33%
(Updated on Jun 25, 2024)
The Sangoma Technologies Corporation stock price gained 1.33% on the last trading day (Tuesday, 25th Jun 2024), rising from $5.28 to $5.35. During the last trading day the stock fluctuated 3.08% from a day low at $5.19 to a day high of $5.35. The price has been going up and down for this period, and there has been a -5.64% loss for the last 2 weeks. Volume fell on the last day by -5 thousand shares and in total, 2 thousand shares were bought and sold for approximately $8.11 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 22.13% during the next 3 months and, with a 90% probability hold a price between $5.75 and $7.46 at the end of this 3-month period.
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SANG Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, June 11, 2024, and so far it has fallen -10.08%. 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 Sangoma Technologies 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 $5.35 and $5.17. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Sangoma Technologies Corporation stock
Sangoma Technologies Corporation finds support from accumulated volume at $5.27 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 $0.160 between high and low, or 3.08%. For the last week the stock has had daily average volatility of 5.95%.
Our recommended stop-loss: $5.05 (-5.68%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 34 days ago.)
Trading Expectations (SANG) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Sangoma Technologies Corporation to open at $5.30, and during the day (based on 14 day Average True Range), to move between $5.04 and $5.66, which gives a possible trading interval of +/-$0.306 (+/-5.72%) up or down from last closing price. If Sangoma Technologies Corporation takes out the full calculated possible swing range there will be an estimated 11.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.27 (1.50%) than the resistance at $5.60 (4.71%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sangoma Technologies 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 Sangoma Technologies Corporation stock to perform well in the short-term.
Current score: 2.164 Buy Candidate Unchanged
Predicted Opening Price for Sangoma Technologies Corporation of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $5.30 ( 1.00%) | $5.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SANG
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.46 | 1.99% |
| R2 | 5.40 | 0.85% |
| R1 | 5.36 | 0.146% |
| Price | 5.35 | |
| S1 | 5.24 | -2.14% |
| S2 | 5.20 | -2.85% |
| S3 | 5.14 | -3.99% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.95 | 11.21% |
| R2 | 5.83 | 8.97% |
| R1 | 5.60 | 4.71% |
| Price | 5.35 | |
| S1 | 5.27 | -1.50% |
| S2 | 4.88 | -8.79% |
| S3 | 4.10 | -23.36% |
FAQ
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