SG Blocks Inc. Stock Forecast
High volatility in SG Blocks Inc. stock price on Thursday which ended trading at $0.219
(Updated on Apr 25, 2024)
The SG Blocks Inc. stock price gained 51.98% on the last trading day (Thursday, 25th Apr 2024), rising from $0.144 to $0.219. During the last trading day the stock fluctuated 66.53% from a day low at $0.190 to a day high of $0.316. The price has fallen in 6 of the last 10 days but is still up by 28.9% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 135 million more shares were traded than the day before. In total, 135 million shares were bought and sold for approximately $29.65 million.
Given the current short-term trend, the stock is expected to fall -52.99% during the next 3 months and, with a 90% probability hold a price between $0.0569 and $0.103 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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SGBX Signals & Forecast
The SG Blocks Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.161 and $0.196. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 51.98%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for SG Blocks Inc. stock
SG Blocks Inc. finds support from accumulated volume at $0.218 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 $0.126 between high and low, or 66.53%. For the last week, the stock has had daily average volatility of 20.39%.
Our recommended stop-loss: $0.211 (-3.66%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (SGBX) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect SG Blocks Inc. to open at $0.242, and during the day (based on 14 day Average True Range), to move between $0.187 and $0.251, which gives a possible trading interval of +/-$0.0315 (+/-14.38%) up or down from last closing price. If SG Blocks Inc. takes out the full calculated possible swing range there will be an estimated 28.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.218 (0.50%) than the resistance at $0.225 (2.74%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is SG Blocks Inc. stock A Buy?
SG Blocks Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for SG Blocks Inc. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $0.242 ( 10.41%) | $0.219 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SGBX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.368 | 68.13 % | |
| R2 | 0.320 | 46.08 % | ||
| R1 | 0.290 | 32.46 % | ||
| Current price: | 0.219 | |||
| Support | S1 | 0.194 | -11.64 % | |
| S2 | 0.164 | -25.26 % | ||
| S3 | 0.115 | -47.31 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.259 | 18.26 % | |
| R2 | 0.231 | 5.25 % | ||
| R1 | 0.225 | 2.74 % | ||
| Current price | 0.219 | |||
| Support | S1 | 0.218 | -0.502% | |
| S2 | 0.211 | -3.65% | ||
| S3 | 0.200 | -8.68% |
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