SciDev Ltd Stock Forecast

Red day on Thursday for SciDev Ltd stock after losing 0%
(Updated on Jun 20, 2024)

SDV.AX Signals & Forecast

The SciDev Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.376 and $0.353. 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). 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 -2.53%. 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 $0.380 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0100 between high and low, or 2.67%. For the last week, the stock has had daily average volatility of 2.70%.

The SciDev Ltd stock is extremely overbought on RSI14 (88). This increases the short-term risk substantially.

Our recommended stop-loss: $0.365 (-5.24%) (This stock has high daily movements and this gives high risk. The RSI14 is 88 and this increases the risk substantially. There is a sell signal from a pivot top found 64 days ago.)

Trading Expectations (SDV.AX) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect SciDev Ltd to open at $0.382, and during the day (based on 14 day Average True Range), to move between $0.373 and $0.397, which gives a possible trading interval of +/-$0.0124 (+/-3.22%) up or down from last closing price. If SciDev Ltd takes out the full calculated possible swing range there will be an estimated 6.45% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.380 (1.30%) than the resistance at $0.395 (2.60%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

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: 2.605 Buy Candidate Unchanged

Predicted Opening Price for SciDev Ltd of Friday, June 21, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.