Satixfy Communications Ltd. Stock Forecast
Satixfy Communications Ltd. stock price up 1.14% on Friday
(Updated on May 17, 2024)
The Satixfy Communications Ltd. stock price gained 1.14% on the last trading day (Friday, 17th May 2024), rising from $0.613 to $0.620. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.32% from a day low at $0.600 to a day high of $0.620. The price has risen in 8 of the last 10 days and is up by 3.77% over the past 2 weeks. Volume fell on the last day by -8 thousand shares and in total, 13 thousand shares were bought and sold for approximately $8.14 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 is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Satixfy Communications Ltd. stock with a 90% probability to be traded between $0.537 and $0.733 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SATX Signals & Forecast
The Satixfy Communications Ltd. 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 $0.610 and $0.591. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Thursday, May 09, 2024, and so far it has fallen -4.25%. Further fall is indicated until a new bottom pivot has been found. 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.
Support, Risk & Stop-loss for Satixfy Communications Ltd. stock
Satixfy Communications Ltd. finds support from accumulated volume at $0.610 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 $0.0199 between high and low, or 3.32%. For the last week the stock has had daily average volatility of 5.70%.
Our recommended stop-loss: $0.592 (-4.55%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (SATX) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Satixfy Communications Ltd. to open at $0.613, and during the day (based on 14 day Average True Range), to move between $0.578 and $0.662, which gives a possible trading interval of +/-$0.0421 (+/-6.79%) up or down from last closing price. If Satixfy Communications Ltd. takes out the full calculated possible swing range there will be an estimated 13.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.630 (1.61%) than the support at $0.610 (1.69%), 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.
Earnings coming up
Satixfy Communications Ltd. will release earnings BMO on Friday, May 24, 2024. We will update the financials statements for Satixfy Communications Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.72% in the first trading day after earnings release.
Is Satixfy Communications Ltd. stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Satixfy Communications Ltd. stock to perform well in the short-term period.
Current score: 1.905 Buy Candidate Unchanged
Predicted Opening Price for Satixfy Communications Ltd. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.613 ( 1.07%) | $0.620 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SATX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.633 | 2.14 % | |
| R2 | 0.626 | 0.91 % | ||
| R1 | 0.621 | 0.156 % | ||
| Current price: | 0.620 | |||
| Support | S1 | 0.606 | -2.30 % | |
| S2 | 0.601 | -3.05 % | ||
| S3 | 0.593 | -4.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.710 | 14.52 % | |
| R2 | 0.680 | 9.68 % | ||
| R1 | 0.630 | 1.61 % | ||
| Current price | 0.620 | |||
| Support | S1 | 0.610 | -1.69% | |
| S2 | 0.577 | -7.00% | ||
| S3 | 0.531 | -14.35% |
FAQ
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