Select Harvests Limited Stock Forecast
Red day on Friday for Select Harvests Limited stock after losing 1.96%
(Updated on Apr 26, 2024)
The Select Harvests Limited stock price fell by -1.96% on the last day (Friday, 26th Apr 2024) from $3.58 to $3.51. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 4.09% from a day low at $3.42 to a day high of $3.56. The price has fallen in 7 of the last 10 days and is down by -17.22% for this period. 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 -415 thousand shares and in total, 483 thousand shares were bought and sold for approximately $1.70 million.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $3.46 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 7.03% during the next 3 months and, with a 90% probability hold a price between $3.70 and $4.86 at the end of this 3-month period.
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SHV.AX Signals & Forecast
There are few to no technical positive signals at the moment. The Select Harvests 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 $3.83 and $4.16. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -21.12%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Select Harvests Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $3.18 and $3.16. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $3.16 may give a huge drop in the stock price.
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 $0.140 between high and low, or 4.09%. For the last week, the stock has had daily average volatility of 4.96%.
Select Harvests Limited is oversold on RSI14 (22). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SHV.AX) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Select Harvests Limited to open at $3.50, and during the day (based on 14 day Average True Range), to move between $3.33 and $3.69, which gives a possible trading interval of +/-$0.178 (+/-5.06%) up or down from last closing price. If Select Harvests Limited takes out the full calculated possible swing range there will be an estimated 10.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.70 (5.41%) than the support at $3.18 (9.40%), 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 Select Harvests Limited stock A Buy?
The Select Harvests Limited stock holds several negative signals and despite the positive trend, we believe Select Harvests Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.461 Sell Candidate Unchanged
Predicted Opening Price for Select Harvests Limited of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $3.50 ( 0.380%) | $3.51 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SHV.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.64 | 3.61 % | |
| R2 | 3.58 | 2.09 % | ||
| R1 | 3.55 | 1.14 % | ||
| Current price: | 3.51 | |||
| Support | S1 | 3.44 | -1.90 % | |
| S2 | 3.41 | -2.84 % | ||
| S3 | 3.36 | -4.37 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.29 | 22.22 % | |
| R2 | 3.72 | 5.98 % | ||
| R1 | 3.70 | 5.41 % | ||
| Current price | 3.51 | |||
| Support | S1 | 3.18 | -9.40% | |
| S2 | 3.16 | -9.97% | ||
| S3 | 0 | . |
SHV Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 08, 2022 | Dec 08, 2022 | Dec 08, 2022 | $0.0200 | 0.468% |
| 2 | Dec 09, 2021 | Dec 09, 2021 | Dec 09, 2021 | $0.0800 | 1.34% |
| 3 | Dec 10, 2020 | Dec 10, 2020 | Dec 10, 2020 | $0.0400 | 0.752% |
| 4 | May 22, 2020 | Jun 18, 2020 | Aug 03, 2020 | $0.0894 | 1.54% |
| 5 | Nov 29, 2019 | Dec 12, 2019 | Jan 06, 2020 | $0.199 | 2.39% |
FAQ
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