Shriro Holdings Limited Stock Forecast

Red day on Monday for Shriro Holdings Limited stock after losing 0%
(Updated on May 27, 2024)

SHM.AX Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, May 09, 2024, and so far it has risen 2.11%. Further rise is indicated until a new top pivot has been found. Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Shriro Holdings Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.732 and $0.732. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Shriro Holdings Limited stock

Shriro Holdings Limited finds support from accumulated volume at $0.720 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.0100 (1.38%) between high and low. For the last week, the stock has had daily average volatility of 1.66%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (SHM.AX) For The Upcoming Trading Day Of Tuesday 28th

For the upcoming trading day on Tuesday, 28th we expect Shriro Holdings Limited to open at $0.728, and during the day (based on 14 day Average True Range), to move between $0.710 and $0.740, which gives a possible trading interval of +/-$0.0148 (+/-2.04%) up or down from last closing price. If Shriro Holdings Limited takes out the full calculated possible swing range there will be an estimated 4.07% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.730 (0.69%) than the support at $0.720 (0.69%), 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.

Is Shriro Holdings Limited stock A Buy?

Shriro Holdings Limited holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -4.769 Sell Candidate Unchanged

Predicted Opening Price for Shriro Holdings Limited of Tuesday, May 28, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.