SCI Engineered Materials, Inc Stock Forecast
SCI Engineered Materials, Inc stock price ended at $5.20 on Thursday, after gaining 1.56%.
(Updated on May 16, 2024)
The SCI Engineered Materials, Inc stock price gained 1.56% on the last trading day (Thursday, 16th May 2024), rising from $5.12 to $5.20. During the last trading day the stock fluctuated 0% from a day low at $5.20 to a day high of $5.20. The price has fallen in 4 of the last 10 days and is down by -2.59% for this period. Volume fell on the last day by -400 shares and in total, 500 shares were bought and sold for approximately $2.60 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 lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $5.08 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 2.87% during the next 3 months and, with a 90% probability hold a price between $5.22 and $5.91 at the end of this 3-month period.
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SCIA Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, May 10, 2024, and so far it has risen 2.16%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The SCI Engineered Materials, Inc 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 $5.22 and $5.32. A break-up above any of these levels will issue buy signals. 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 stock had a Golden Star Signal on Wednesday, May 31, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Wednesday, May 31, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
A buy signal from a double bottom formation was found on Thursday, April 04, 2024 and based on theory for this formation the price should go up by 8.91% to $5.66 within 6 trading days since signal was issued (Friday, May 17, 2024).
Support, Risk & Stop-loss for SCI Engineered Materials, Inc stock
SCI Engineered Materials, Inc finds support from accumulated volume at $5.12 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 controlled movements and therefore the general risk is considered 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 0.505%.
Our recommended stop-loss: $4.94 (-5.05%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (SCIA) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect SCI Engineered Materials, Inc to open at $5.20, and during the day (based on 14 day Average True Range), to move between $5.07 and $5.33, which gives a possible trading interval of +/-$0.128 (+/-2.46%) up or down from last closing price. If SCI Engineered Materials, Inc takes out the full calculated possible swing range there will be an estimated 4.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.24 (0.77%) than the support at $5.12 (1.54%), 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 SCI Engineered Materials, Inc stock A Buy?
SCI Engineered Materials, Inc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.562 Hold/Accumulate Unchanged
Predicted Opening Price for SCI Engineered Materials, Inc of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| $5.20 ( 0%) | $5.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SCIA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.20 | . | |
| R2 | 5.20 | . | ||
| R1 | 5.20 | . | ||
| Current price: | 5.20 | |||
| Support | S1 | 5.20 | . | |
| S2 | 5.20 | . | ||
| S3 | 5.20 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.49 | 5.58 % | |
| R2 | 5.25 | 0.96 % | ||
| R1 | 5.24 | 0.769 % | ||
| Current price | 5.20 | |||
| Support | S1 | 5.12 | -1.54% | |
| S2 | 5.10 | -1.92% | ||
| S3 | 5.00 | -3.85% |
FAQ
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