Sdcl Edge Acquisition Corporation Stock Forecast
Sdcl Edge Acquisition Corporation stock downgraded to Sell Candidate
(Updated on Jun 25, 2024)
The Sdcl Edge Acquisition Corporation stock price fell by -0.632% on the last day (Tuesday, 25th Jun 2024) from $11.07 to $11.00. During the last trading day the stock fluctuated 4.55% from a day low at $11.00 to a day high of $11.50. The price has been going up and down for this period, and there has been a -0.63% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -307 thousand shares and in total, 2 thousand shares were bought and sold for approximately $26.40 thousand.
The stock has broken the narrow and horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately $11.05 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
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SEDA Signals & Forecast
There are few to no technical positive signals at the moment. The Sdcl Edge Acquisition Corporation 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 $11.06 and $11.07. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 21, 2024, and so far it has fallen -0.81%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. 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 Friday, June 21, 2024 with a target of $11.07. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for Sdcl Edge Acquisition Corporation stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
In general the stock tends to have very controlled movements and therefore the general risk is considered very 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 $0.500 between high and low, or 4.55%. For the last week the stock has had daily average volatility of 2.01%
Sdcl Edge Acquisition Corporation is oversold on RSI14 (28). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SEDA) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Sdcl Edge Acquisition Corporation to open at $11.17, and during the day (based on 14 day Average True Range), to move between $10.82 and $11.18, which gives a possible trading interval of +/-$0.181 (+/-1.65%) up or down from last closing price. If Sdcl Edge Acquisition Corporation takes out the full calculated possible swing range there will be an estimated 3.30% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $11.07, some $0.0700 (0.64%) from the current price of $11.00, our system finds the risk reward not very attractive.
Is Sdcl Edge Acquisition Corporation stock A Buy?
Sdcl Edge Acquisition Corporation holds several negative signals and is within a narrow and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.750 Sell Candidate Downgraded
Predicted Opening Price for Sdcl Edge Acquisition Corporation of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $11.17 ( 1.52%) | $11.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SEDA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.67 | 6.06% |
| R2 | 11.48 | 4.32% |
| R1 | 11.36 | 3.25% |
| Price | 11.00 | |
| S1 | 10.98 | -0.221% |
| S2 | 10.86 | -1.29% |
| S3 | 10.67 | -3.03% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.09 | 0.82% |
| R2 | 11.08 | 0.727% |
| R1 | 11.07 | 0.636% |
| Price | 11.00 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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