SG Fleet Group Limited Stock Forecast
SG Fleet Group Limited stock downgraded to Sell Candidate
(Updated on Jul 04, 2024)
The SG Fleet Group Limited stock price gained 1.94% on the last trading day (Thursday, 4th Jul 2024), rising from $3.09 to $3.15. During the last trading day the stock fluctuated 2.27% from a day low at $3.09 to a day high of $3.16. The price has fallen in 5 of the last 10 days. Volume fell on the last day by -138 thousand shares and in total, 130 thousand shares were bought and sold for approximately $409.16 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect SG Fleet Group Limited stock with a 90% probability to be traded between $2.87 and $3.27 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SGF.AX Signals & Forecast
The SG Fleet Group Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $3.18. On a fall, the stock will find some support from the long-term average at approximately $3.06. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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, June 28, 2024, and so far it has fallen -4.55%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for SG Fleet Group Limited stock
SG Fleet Group Limited finds support from accumulated volume at $3.14 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0700 between high and low, or 2.27%. For the last week the stock has had daily average volatility of 3.12%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SGF.AX) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect SG Fleet Group Limited to open at $3.13, and during the day (based on 14 day Average True Range), to move between $3.05 and $3.25, which gives a possible trading interval of +/-$0.0956 (+/-3.04%) up or down from last closing price. If SG Fleet Group Limited takes out the full calculated possible swing range there will be an estimated 6.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.14 (0.32%) than the resistance at $3.16 (0.32%), 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 Fleet Group Limited stock A Buy?
SG Fleet Group 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. 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: -1.276 Sell Candidate Downgraded
Predicted Opening Price for SG Fleet Group Limited of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| $3.13 ( 0.529%) | $3.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SGF.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.20 | 1.69% |
| R2 | 3.18 | 0.84% |
| R1 | 3.16 | 0.320% |
| Price | 3.15 | |
| S1 | 3.11 | -1.38% |
| S2 | 3.09 | -1.90% |
| S3 | 3.06 | -2.75% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.30 | 4.76% |
| R2 | 3.18 | 0.95% |
| R1 | 3.16 | 0.317% |
| Price | 3.15 | |
| S1 | 3.14 | -0.317% |
| S2 | 3.00 | -4.76% |
| S3 | 2.95 | -6.35% |
SGF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 05, 2024 | Mar 05, 2024 | Mar 20, 2024 | $0.0960 | 3.48% |
| 2 | Aug 31, 2023 | Aug 31, 2023 | Sep 15, 2023 | $0.0727 | 2.80% |
| 3 | Feb 22, 2023 | Feb 22, 2023 | Feb 22, 2023 | $0.0891 | 4.05% |
| 4 | Aug 24, 2022 | Aug 24, 2022 | Aug 24, 2022 | $0.0681 | 2.75% |
| 5 | Feb 23, 2022 | Feb 23, 2022 | Feb 23, 2022 | $0.0832 | 3.08% |
FAQ
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