Sharp Corporation Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Evaluation of Sharp Corporation stock downgraded after the last trading session.
(Updated on May 31, 2024)
The Sharp Corporation stock price fell by -2.72% on the last day (Friday, 31st May 2024) from $1.47 to $1.43. During the last trading day the stock fluctuated 2.10% from a day low at $1.43 to a day high of $1.46. The price has been going up and down for this period, and there has been a 11.72% gain for the last 2 weeks. Volume has increased on the last day by 69 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 82 thousand shares were bought and sold for approximately $116.83 thousand.
The stock lies in the upper part of a wide and weak 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 $1.47 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 3.67% during the next 3 months and, with a 90% probability hold a price between $1.29 and $1.52 at the end of this 3-month period.
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SHCAY Signals & Forecast
The Sharp Corporation 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 $1.43 and $1.32. 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 Thursday, May 30, 2024, and so far it has fallen -2.72%. Further fall is indicated until a new bottom pivot has been found. Sharp Corporation 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".
Support, Risk & Stop-loss for Sharp Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.33 and $1.29. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Sharp Corporation finds support just below today's level at $1.33. If this is broken, then the next support from accumulated volume will be at $1.29 and $1.27.
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 $0.0300 between high and low, or 2.10%. For the last week, the stock has had daily average volatility of 5.85%.
Our recommended stop-loss: $1.38 (-3.27%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 11 days ago.)
Trading Expectations (SHCAY) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Sharp Corporation to open at $1.44, and during the day (based on 14 day Average True Range), to move between $1.36 and $1.50, which gives a possible trading interval of +/-$0.0735 (+/-5.14%) up or down from last closing price. If Sharp Corporation takes out the full calculated possible swing range there will be an estimated 10.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.43 (0.28%) than the support at $1.33 (6.99%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Sharp Corporation will release earnings -- on Thursday, June 06, 2024. We will update the financials statements for Sharp Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.67% in the first trading day after earnings release.
Is Sharp Corporation stock A Buy?
Sharp Corporation 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.
Current score: 0.371 Hold/Accumulate Downgraded
Predicted Opening Price for Sharp Corporation of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| $1.44 ( 0.699%) | $1.43 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SHCAY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.47 | 2.80 % | |
| R2 | 1.46 | 2.00 % | ||
| R1 | 1.45 | 1.50 % | ||
| Current price: | 1.43 | |||
| Support | S1 | 1.43 | -0.102 % | |
| S2 | 1.42 | -0.597 % | ||
| S3 | 1.41 | -1.40 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.47 | 2.80 % | |
| R2 | 1.44 | 0.350 % | ||
| R1 | 1.43 | 0.280 % | ||
| Current price | 1.43 | |||
| Support | S1 | 1.33 | -6.99% | |
| S2 | 1.29 | -9.79% | ||
| S3 | 1.27 | -11.19% |
SHCAY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 29, 2022 | Mar 29, 2022 | Jun 23, 2022 | $0.0469 | 2.52% |
| 2 | Sep 27, 2006 | Sep 27, 2006 | Sep 27, 2006 | $0.258 | 0.592% |
| 3 | Mar 28, 2006 | Mar 28, 2006 | Mar 28, 2006 | $0.213 | 0.487% |
| 4 | Sep 27, 2005 | Sep 27, 2005 | Sep 27, 2005 | $0.225 | 0.619% |
| 5 | Mar 28, 2005 | Mar 28, 2005 | Mar 28, 2005 | $0.238 | 0.623% |
FAQ
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