Sheffield Resources Limited Stock Forecast

Sheffield Resources Limited stock price down 1.59% on Friday
(Updated on Jun 21, 2024)

SFX.AX Signals & Forecast

There are mixed signals in the stock today. The Sheffield Resources Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.410. On a fall, the stock will find some support from the short-term average at $0.304. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Sheffield Resources Limited 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". A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 8.77%. Further rise is indicated until a new top pivot has been found.

Support, Risk & Stop-loss for Sheffield Resources Limited stock

Sheffield Resources Limited finds support from accumulated volume at $0.300 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 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 $0.0250 between high and low, or 8.47%. For the last week, the stock has had daily average volatility of 6.10%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (SFX.AX) For The Upcoming Trading Day Of Monday 24th

For the upcoming trading day on Monday, 24th we expect Sheffield Resources Limited to open at $0.308, and during the day (based on 14 day Average True Range), to move between $0.285 and $0.335, which gives a possible trading interval of +/-$0.0247 (+/-7.95%) up or down from last closing price. If Sheffield Resources Limited takes out the full calculated possible swing range there will be an estimated 15.91% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.300 (3.23%) than the resistance at $0.330 (6.45%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Sheffield Resources Limited stock A Buy?

Sheffield Resources Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -4.531 Sell Candidate Unchanged

Predicted Opening Price for Sheffield Resources Limited of Monday, June 24, 2024

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