Seafarer Exploration Corp. Stock Forecast
Big movements in Seafarer Exploration Corp. stock price on Friday moving 21.95% between high and low
(Updated on Jun 14, 2024)
The Seafarer Exploration Corp. stock price fell by -2.20% on the last day (Friday, 14th Jun 2024) from $0.0091 to $0.0089. During the last trading day the stock fluctuated 21.95% from a day low at $0.0082 to a day high of $0.0100. The price has fallen in 6 of the last 10 days but is still up by 8.54% over the past 2 weeks. Volume has increased on the last day by 2 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 4 million shares were bought and sold for approximately $38.50 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -48.76% during the next 3 months and, with a 90% probability hold a price between $0.0009 and $0.0083 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SFRX Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 29, 2024, and so far it has risen 17.88%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Seafarer Exploration Corp. 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 $0.0091 and $0.0117. A break-up above any of these levels will issue buy signals. Seafarer Exploration Corp. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Seafarer Exploration Corp. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0085 and $0.0084. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Seafarer Exploration Corp. finds support just below today's level at $0.0085. If this is broken, then the next support from accumulated volume will be at $0.0084 and $0.0080.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0018 between high and low, or 21.95%. For the last week, the stock has had daily average volatility of 18.29%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SFRX) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect Seafarer Exploration Corp. to open at $0.0090, and during the day (based on 14 day Average True Range), to move between $0.0070 and $0.0108, which gives a possible trading interval of +/-$0.0019 (+/-20.98%) up or down from last closing price. If Seafarer Exploration Corp. takes out the full calculated possible swing range there will be an estimated 41.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0090 (1.12%) than the support at $0.0085 (5.06%), 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 Seafarer Exploration Corp. stock A Buy?
Seafarer Exploration Corp. holds several negative signals and is within a very wide 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 Sell to a Strong Sell candidate.
Current score: -5.472 Strong Sell Candidate Downgraded
Predicted Opening Price for Seafarer Exploration Corp. of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| $0.0090 ( 1.50%) | $0.0089 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SFRX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0108 | 21.72% |
| R2 | 0.0101 | 14.00% |
| R1 | 0.0097 | 9.22% |
| Price | 0.0089 | |
| S1 | 0.0083 | -6.23% |
| S2 | 0.0079 | -11.00% |
| S3 | 0.0072 | -18.73% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0092 | 3.37% |
| R2 | 0.0091 | 2.25% |
| R1 | 0.0090 | 1.12% |
| Price | 0.0089 | |
| S1 | 0.0085 | -5.06% |
| S2 | 0.0084 | -5.62% |
| S3 | 0.0080 | -10.11% |
FAQ
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