Sidney Resources Corp. Stock Forecast
Volatile ride for Sidney Resources Corp. stock price on Friday moving between $0.275 and $0.329
(Updated on Jun 28, 2024)
The Sidney Resources Corp. stock price gained 13.70% on the last trading day (Friday, 28th Jun 2024), rising from $0.270 to $0.307. During the last trading day the stock fluctuated 19.64% from a day low at $0.275 to a day high of $0.329. The price has been going up and down for this period, and there has been a 3.12% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 424 thousand more shares were traded than the day before. In total, 431 thousand shares were bought and sold for approximately $132.29 thousand.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.302, a level that may pose a second chance to hit a runner. According to fan-theory $0.444 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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SDRC Signals & Forecast
The Sidney Resources Corp. 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 $0.287 and $0.290. 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). Sidney Resources Corp. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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, April 18, 2024, and so far it has fallen -7.81%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Sidney Resources Corp. stock
Sidney Resources Corp. finds support from accumulated volume at $0.293 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0540 between high and low, or 19.64%. For the last week, the stock has had daily average volatility of 5.67%.
Our recommended stop-loss: $0.289 (-5.76%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 52 days ago.)
Trading Expectations (SDRC) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Sidney Resources Corp. to open at $0.304, and during the day (based on 14 day Average True Range), to move between $0.289 and $0.325, which gives a possible trading interval of +/-$0.0182 (+/-5.92%) up or down from last closing price. If Sidney Resources Corp. takes out the full calculated possible swing range there will be an estimated 11.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.293 (4.56%) than the resistance at $0.326 (6.06%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sidney Resources Corp. stock A Buy?
Sidney Resources Corp. 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.542 Hold/Accumulate Upgraded
Predicted Opening Price for Sidney Resources Corp. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $0.304 ( 1.09%) | $0.307 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SDRC
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.358 | 16.50% |
| R2 | 0.337 | 9.78% |
| R1 | 0.324 | 5.63% |
| Price | 0.307 | |
| S1 | 0.283 | -7.80% |
| S2 | 0.270 | -11.96% |
| S3 | 0.250 | -18.68% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.344 | 12.05% |
| R2 | 0.326 | 6.12% |
| R1 | 0.326 | 6.06% |
| Price | 0.307 | |
| S1 | 0.293 | -4.56% |
| S2 | 0.280 | -8.79% |
| S3 | 0.274 | -10.91% |
FAQ
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