SciDev Ltd Stock Forecast
SciDev Ltd stock price ended at $0.370 on Tuesday, after losing 0%.
(Updated on Jun 18, 2024)
No changes to the price of SciDev Ltd stock on the last trading day (Tuesday, 18th Jun 2024). During the last trading day the stock fluctuated 2.70% from a day low at $0.370 to a day high of $0.380. The price has risen in 5 of the last 10 days and is up by 7.25% over the past 2 weeks.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 44.30% during the next 3 months and, with a 90% probability hold a price between $0.490 and $0.705 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
SDV.AX Signals & Forecast
The SciDev Ltd 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 $0.372. On a fall, the stock will find some support from the long-term average at approximately $0.352. 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). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. 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 Tuesday, April 23, 2024, and so far it has fallen -6.33%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for SciDev Ltd stock
SciDev Ltd finds support from accumulated volume at $0.365 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 $0.0100 between high and low, or 2.70%. For the last week, the stock has had daily average volatility of 1.62%.
Our recommended stop-loss: $0.350 (-5.38%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 81 and this increases the risk substantially. There is a sell signal from a pivot top found 62 days ago.)
Trading Expectations (SDV.AX) For The Upcoming Trading Day Of Wednesday 19th
For the upcoming trading day on Wednesday, 19th we expect SciDev Ltd to open at $0.373, and during the day (based on 14 day Average True Range), to move between $0.358 and $0.382, which gives a possible trading interval of +/-$0.0124 (+/-3.35%) up or down from last closing price. If SciDev Ltd takes out the full calculated possible swing range there will be an estimated 6.71% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.375 (1.35%) than the support at $0.365 (1.35%), 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 SciDev Ltd stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for SciDev Ltd stock to perform well in the short-term.
Current score: 1.272 Buy Candidate Unchanged
Predicted Opening Price for SciDev Ltd of Wednesday, June 19, 2024
Fair opening price June 19, 2024 | Current price |
---|---|
$0.373 ( 0.90%) | $0.370 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SDV.AX
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.383 | 3.60% |
R2 | 0.380 | 2.57% |
R1 | 0.377 | 1.93% |
Price | 0.370 | |
S1 | 0.370 | -0.132% |
S2 | 0.367 | -0.769% |
S3 | 0.363 | -1.80% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.395 | 6.76% |
R2 | 0.380 | 2.70% |
R1 | 0.375 | 1.35% |
Price | 0.370 | |
S1 | 0.365 | -1.35% |
S2 | 0.345 | -6.76% |
S3 | 0.340 | -8.11% |
FAQ
Click here for our free guide on how to buy SciDev Ltd Stock.