SG Blocks Inc. Stock Forecast
Volatile ride for SG Blocks Inc. stock price on Tuesday moving between $4.32 and $5.10
(Updated on May 07, 2024)
The SG Blocks Inc. stock price fell by -0.619% on the last day (Tuesday, 7th May 2024) from $4.85 to $4.82. During the last trading day the stock fluctuated 18.12% from a day low at $4.32 to a day high of $5.10. The price has fallen in 7 of the last 10 days but is still up by 3170.01% over the past 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 -2 million shares and in total, 717 thousand shares were bought and sold for approximately $3.45 million.
The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $5.58 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 32.00% during the next 3 months and, with a 90% probability hold a price between $0.263 and $7.37 at the end of this 3-month period.
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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. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $2.64 and $0.672. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Friday, May 03, 2024, and so far it has fallen -13.00%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for SG Blocks Inc. 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.
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 $0.783 between high and low, or 18.12%. For the last week, the stock has had daily average volatility of 55.66%.
The SG Blocks Inc. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $4.57 (-5.26%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 87 and this increases the risk substantially. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (SGBX) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect SG Blocks Inc. to open at $4.75, and during the day (based on 14 day Average True Range), to move between $4.02 and $5.62, which gives a possible trading interval of +/-$0.80 (+/-16.69%) up or down from last closing price. If SG Blocks Inc. takes out the full calculated possible swing range there will be an estimated 33.38% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $4.85, some $0.0300 (0.62%) from the current price of $4.82, our system finds the risk reward not very attractive.
Earnings coming up
SG Blocks Inc. will release earnings BMO on Thursday, May 09, 2024. We will update the financials statements for SG Blocks Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 9.31% in the first trading day after earnings release.
Is SG Blocks Inc. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for SG Blocks Inc. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.404 Buy Candidate Upgraded
Predicted Opening Price for SG Blocks Inc. of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $4.75 ( 1.50%) | $4.82 |
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 | 5.53 | 14.74 % | |
| R2 | 5.23 | 8.53 % | ||
| R1 | 5.05 | 4.70 % | ||
| Current price: | 4.82 | |||
| Support | S1 | 4.45 | -7.71 % | |
| S2 | 4.26 | -11.54 % | ||
| S3 | 3.96 | -17.74 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 5.54 | 14.94 % | ||
| R1 | 4.85 | 0.622 % | ||
| Current price | 4.82 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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