Sienna Senior Living Inc. Stock Forecast

Weaker technical forecast for Sienna Senior Living Inc. as stock downgraded to Hold/Accumulate.
(Updated on May 17, 2024)

SIA.TO Signals & Forecast

The Sienna Senior Living Inc. 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 $14.79 and $13.59. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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 Friday, May 10, 2024, and so far it has fallen -1.32%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Sienna Senior Living Inc. stock

On the downside, the stock finds support just below today's level from accumulated volume at $13.42 and $13.30. 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, Sienna Senior Living Inc. finds support just below today's level at $13.42. If this is broken, then the next support from accumulated volume will be at $13.30 and $13.10.

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 $0.340 between high and low, or 2.32%. For the last week, the stock has had daily average volatility of 1.98%.

The Sienna Senior Living Inc. stock is overbought on RSI14 and the RSI has been falling for the last couple of days. This together with the fact that the stock is in the upper part of the trend poses a possible good selling opportunity for the short-term trader. However, one should note that some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: $14.37 (-3.80%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 80 and this increases the risk substantially. There is a sell signal from a pivot top found 5 days ago.)

Trading Expectations (SIA.TO) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Sienna Senior Living Inc. to open at $14.87, and during the day (based on 14 day Average True Range), to move between $14.64 and $15.24, which gives a possible trading interval of +/-$0.301 (+/-2.01%) up or down from last closing price. If Sienna Senior Living Inc. takes out the full calculated possible swing range there will be an estimated 4.03% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $15.14 (1.34%) than the support at $13.42 (10.17%), 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 Sienna Senior Living Inc. stock A Buy?

Sienna Senior Living Inc. 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 Buy to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Downgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Sienna Senior Living Inc. of Tuesday, May 21, 2024

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