SDX Energy Inc Stock Forecast
Stronger technical forecast for SDX Energy Inc stock price after Monday trading.
(Updated on Jun 17, 2024)
The SDX Energy Inc stock price gained 0.95% on the last trading day (Monday, 17th Jun 2024), rising from £3.70 to £3.74. During the last trading day the stock fluctuated 3.46% from a day low at £3.61 to a day high of £3.74. The price has fallen in 4 of the last 10 days and is down by -4.72% for this period. Volume fell on the last day by -1 million shares and in total, 90 thousand shares were bought and sold for approximately £336.15 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and weak 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 3.90% during the next 3 months and, with a 90% probability hold a price between £3.73 and £4.18 at the end of this 3-month period.
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SDX.L Signals & Forecast
The SDX Energy Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at £3.79 and £3.80. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 0.95%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for SDX Energy Inc stock
SDX Energy Inc finds support from accumulated volume at £3.70 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have controlled movements and therefore the general risk is considered 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 £0.125 between high and low, or 3.46%. For the last week the stock has had daily average volatility of 2.65%.
Our recommended stop-loss: £3.53 (-5.55%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (SDX.L) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect SDX Energy Inc to open at £3.69, and during the day (based on 14 day Average True Range), to move between £3.63 and £3.84, which gives a possible trading interval of +/-£0.100 (+/-2.68%) up or down from last closing price. If SDX Energy Inc takes out the full calculated possible swing range there will be an estimated 5.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £3.70 (0.94%) than the resistance at £3.80 (1.74%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is SDX Energy Inc stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.048 Buy Candidate Upgraded
Predicted Opening Price for SDX Energy Inc of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| £3.69 ( 1.12%) | £3.74 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SDX.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.82 | 2.23% |
| R2 | 3.77 | 0.95% |
| R1 | 3.74 | 0.163% |
| Price | 3.74 | |
| S1 | 3.65 | -2.39% |
| S2 | 3.62 | -3.18% |
| S3 | 3.57 | -4.46% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.90 | 4.42% |
| R2 | 3.85 | 3.08% |
| R1 | 3.80 | 1.74% |
| Price | 3.74 | |
| S1 | 3.70 | -0.94% |
| S2 | 3.65 | -2.28% |
| S3 | 3.60 | -3.61% |
FAQ
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