Scientific Industries, Inc. Stock Forecast
Scientific Industries, Inc. stock price fell more than -5.50% Thursday closing at $1.89
(Updated on May 16, 2024)
The Scientific Industries, Inc. stock price fell by -5.50% on the last day (Thursday, 16th May 2024) from $2.00 to $1.89. During the last trading day the stock fluctuated 5.12% from a day low at $1.89 to a day high of $1.99. The price has been going up and down for this period, and there has been a 0% change for the last 2 weeks. Volume has increased on the last day by 2 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 thousand shares were bought and sold for approximately $4.44 thousand.
The stockis at the upper part of a very wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $2.00 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Scientific Industries, Inc. stock with a 90% probability to be traded between $1.30 and $2.00 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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SCND Signals & Forecast
The Scientific Industries, Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $1.98. On a fall, the stock will find some support from the long-term average at approximately $1.75. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Wednesday, May 15, 2024, and so far it has fallen -5.50%. Further fall is indicated until a new bottom pivot has been found. Scientific Industries, Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
A sell signal from a double top formation was found on Wednesday, May 15, 2024 and based on theory for this formation the price should fall by -57.03% to $0.81 within 33 trading days since signal was issued (Friday, May 17, 2024).
Support, Risk & Stop-loss for Scientific Industries, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.71 and $1.65. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Scientific Industries, Inc. finds support just below today's level at $1.71. If this is broken, then the next support from accumulated volume will be at $1.65 and $1.42.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0968 between high and low, or 5.12%. For the last week, the stock has had daily average volatility of 1.02%.
Our recommended stop-loss: $1.80 (-4.62%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (SCND) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Scientific Industries, Inc. to open at $1.92, and during the day (based on 14 day Average True Range), to move between $1.82 and $1.96, which gives a possible trading interval of +/-$0.0671 (+/-3.55%) up or down from last closing price. If Scientific Industries, Inc. takes out the full calculated possible swing range there will be an estimated 7.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.95 (3.17%) than the support at $1.71 (9.52%), 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 Scientific Industries, Inc. stock A Buy?
Scientific Industries, 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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Scientific Industries, Inc. of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| $1.92 ( 1.71%) | $1.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SCND
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.02 | 6.83 % | |
| R2 | 1.98 | 4.87 % | ||
| R1 | 1.96 | 3.66 % | ||
| Current price: | 1.89 | |||
| Support | S1 | 1.89 | -0.249 % | |
| S2 | 1.86 | -1.46 % | ||
| S3 | 1.83 | -3.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.00 | 5.82 % | |
| R2 | 1.99 | 5.29 % | ||
| R1 | 1.95 | 3.17 % | ||
| Current price | 1.89 | |||
| Support | S1 | 1.71 | -9.52% | |
| S2 | 1.65 | -12.70% | ||
| S3 | 1.42 | -24.87% |
SCND Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 27, 2018 | Nov 27, 2018 | Nov 27, 2018 | $0.0500 | 1.16% |
| 2 | Nov 21, 2016 | Nov 21, 2016 | Nov 21, 2016 | $0.0300 | 1.04% |
| 3 | Oct 09, 2013 | Oct 09, 2013 | Oct 09, 2013 | $0.0800 | 2.48% |
| 4 | Sep 27, 2012 | Sep 27, 2012 | Sep 27, 2012 | $0.300 | 17.65% |
| 5 | Sep 22, 2011 | Sep 22, 2011 | Sep 22, 2011 | $0.0500 | 1.89% |
FAQ
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