Select Harvests Limited Stock Forecast

Select Harvests Limited stock upgraded to Sell Candidate.
(Updated on May 10, 2024)

SHV.AX Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, May 09, 2024, and so far it has risen 0.612%. Further rise is indicated until a new top pivot has been found. Select Harvests Limited 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. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 $3.36 and $3.92. 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 Select Harvests Limited stock

Select Harvests Limited finds support from accumulated volume at $3.27 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.130 between high and low, or 4.00%. For the last week, the stock has had daily average volatility of 4.45%.

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 13th

For the upcoming trading day on Monday, 13th we expect Select Harvests Limited to open at $3.31, and during the day (based on 14 day Average True Range), to move between $3.13 and $3.45, which gives a possible trading interval of +/-$0.163 (+/-4.94%) up or down from last closing price. If Select Harvests Limited takes out the full calculated possible swing range there will be an estimated 9.89% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $3.27 (0.61%) than the resistance at $3.58 (8.81%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Select Harvests Limited stock A Buy?

Select Harvests Limited holds several negative signals and is within a very 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.

Current score: -4.507 Sell Candidate Upgraded

Predicted Opening Price for Select Harvests Limited of Monday, May 13, 2024

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