Sigma Healthcare Limited Stock Forecast

Sigma Healthcare Limited stock upgraded to Hold/Accumulate.
(Updated on May 17, 2024)

SIG.AX Signals & Forecast

There are few to no technical positive signals at the moment. The Sigma Healthcare 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 $1.26 and $1.27. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -5.73%. 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 Sigma Healthcare Limited stock

Sigma Healthcare Limited finds support from accumulated volume at $1.23 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0220 between high and low, or 1.78%. For the last week the stock has had daily average volatility of 2.09%.

Our recommended stop-loss: $1.18 (-4.66%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 17 days ago.)

Trading Expectations (SIG.AX) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Sigma Healthcare Limited to open at $1.24, and during the day (based on 14 day Average True Range), to move between $1.20 and $1.27, which gives a possible trading interval of +/-$0.0368 (+/-2.98%) up or down from last closing price. If Sigma Healthcare Limited takes out the full calculated possible swing range there will be an estimated 5.96% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $1.23 (0.81%) than the resistance at $1.25 (1.21%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Sigma Healthcare Limited stock A Buy?

Sigma Healthcare Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.754 Hold/Accumulate Upgraded

Predicted Opening Price for Sigma Healthcare Limited of Monday, May 20, 2024

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