Signet Jewelers Stock Forecast

Signet Jewelers stock price up 2.15% on Friday
(Updated on Apr 26, 2024)

SIG Signals & Forecast

The Signet Jewelers 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 $98.67 and $98.31. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 8.32%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Monday, May 15, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Signet Jewelers stock

On the downside, the stock finds support just below today's level from accumulated volume at $95.12 and $90.08. 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, Signet Jewelers finds support just below today's level at $95.12. If this is broken, then the next support from accumulated volume will be at $90.08 and $90.00.

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 $2.94 between high and low, or 2.96%. For the last week, the stock has had daily average volatility of 4.15%.

Our recommended stop-loss: $98.14 (-3.60%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)

Trading Expectations (SIG) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Signet Jewelers Limited to open at $101.14, and during the day (based on 14 day Average True Range), to move between $97.86 and $105.74, which gives a possible trading interval of +/-$3.94 (+/-3.87%) up or down from last closing price. If Signet Jewelers Limited takes out the full calculated possible swing range there will be an estimated 7.74% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $102.46 (0.65%) than the support at $95.12 (6.56%), 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 Signet Jewelers Limited stock A Buy?

Signet Jewelers 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.

Current score: -0.055 Hold/Accumulate Unchanged

Predicted Opening Price for Signet Jewelers Limited of Monday, April 29, 2024

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