Searchlight Resources Inc. Stock Forecast
Evaluation of Searchlight Resources Inc. stock downgraded after the last trading session.
(Updated on Jun 28, 2024)
No changes to the price of Searchlight Resources Inc. stock on the last trading day (Friday, 28th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $0.0150 to a day high of $0.0150. The price has been going up and down for this period, and there has been a 0% change for the last 2 weeks.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.0173 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -39.91% during the next 3 months and, with a 90% probability hold a price between $0.0033 and $0.0104 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SCLT.V Signals & Forecast
The Searchlight Resources Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.0121 and $0.0137. 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, June 27, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Tuesday, June 25, 2024 with a target of $0.0140. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for Searchlight Resources Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
In general the stock tends to have very controlled movements and therefore the general risk is considered very 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%
Our recommended stop-loss: $0.0144 (-3.80%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (SCLT.V) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Searchlight Resources Inc. to open at $0.0150, and during the day (based on 14 day Average True Range), to move between $0.0132 and $0.0168, which gives a possible trading interval of +/-$0.0018 (+/-11.93%) up or down from last closing price. If Searchlight Resources Inc. takes out the full calculated possible swing range there will be an estimated 23.86% move between the lowest and the highest trading price during the day.
Is Searchlight Resources Inc. stock A Buy?
Searchlight Resources Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.039 Hold/Accumulate Downgraded
Predicted Opening Price for Searchlight Resources Inc. of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| $0.0150 ( 0%) | $0.0150 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SCLT.V
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0150 | - |
| R2 | 0.0150 | - |
| R1 | 0.0150 | - |
| Price | 0.0150 | |
| S1 | 0.0150 | - |
| S2 | 0.0150 | - |
| S3 | 0.0150 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 0.0150 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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