SigmaTron International Stock Forecast
Stronger technical forecast for SigmaTron International stock price after Wednesday trading.
(Updated on Apr 24, 2024)
The SigmaTron International stock price gained 1.97% on the last trading day (Wednesday, 24th Apr 2024), rising from $4.03 to $4.11. During the last trading day the stock fluctuated 3.73% from a day low at $4.00 to a day high of $4.15. The price has been going up and down for this period, and there has been a 7.27% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 thousand more shares were traded than the day before. In total, 13 thousand shares were bought and sold for approximately $53.62 thousand.
The stock has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $4.02, a level that may pose a second chance to hit a runner. According to fan-theory $4.49 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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SGMA Signals & Forecast
Mostly positive signals in the chart today. The SigmaTron International 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 $3.97 and $3.67. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 14, 2024, and so far it has risen 27.19%. 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). SigmaTron International has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for SigmaTron International stock
SigmaTron International finds support from accumulated volume at $4.06 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.149 between high and low, or 3.73%. For the last week, the stock has had daily average volatility of 3.65%.
The SigmaTron International stock is extremely overbought on RSI14 (76). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: $3.97 (-3.48%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 28 days ago.)
Trading Expectations (SGMA) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect SigmaTron International to open at $4.09, and during the day (based on 14 day Average True Range), to move between $3.95 and $4.27, which gives a possible trading interval of +/-$0.159 (+/-3.87%) up or down from last closing price. If SigmaTron International takes out the full calculated possible swing range there will be an estimated 7.74% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $4.06, some $0.0533 (1.30%) from the current price of $4.11, our system finds the risk reward attractive.
Is SigmaTron International stock A Buy?
SigmaTron International holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 7.181 Strong Buy Candidate Upgraded
Predicted Opening Price for SigmaTron International of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $4.09 ( 0.548%) | $4.11 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SGMA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.23 | 3.08 % | |
| R2 | 4.18 | 1.70 % | ||
| R1 | 4.14 | 0.84 % | ||
| Current price: | 4.11 | |||
| Support | S1 | 4.03 | -1.93 % | |
| S2 | 3.99 | -2.79 % | ||
| S3 | 3.94 | -4.18 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 4.11 | |||
| Support | S1 | 4.06 | -1.30% | |
| S2 | 3.56 | -13.35% | ||
| S3 | 3.35 | -18.46% |
FAQ
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