Silo Pharma Inc. Stock Forecast
Red day on Friday for Silo Pharma Inc.
(Updated on May 03, 2024)
No changes to the price of Silo Pharma Inc. stock on the last trading day (Friday, 3rd May 2024). During the last trading day the stock fluctuated 3.93% from a day low at $1.78 to a day high of $1.85. The price has risen in 6 of the last 10 days but is still down by -6.38% for this period.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $1.85 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 29.57% during the next 3 months and, with a 90% probability hold a price between $2.39 and $2.97 at the end of this 3-month period.
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SILO Signals & Forecast
Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Silo Pharma Inc. 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 $1.86 and $1.91. 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 09, 2024, and so far it has fallen -13.55%. 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).
Support, Risk & Stop-loss for Silo Pharma Inc. stock
Silo Pharma Inc. finds support from accumulated volume at $1.78 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.0700 between high and low, or 3.93%. For the last week, the stock has had daily average volatility of 5.02%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SILO) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Silo Pharma Inc. to open at $1.83, and during the day (based on 14 day Average True Range), to move between $1.71 and $1.99, which gives a possible trading interval of +/-$0.143 (+/-7.74%) up or down from last closing price. If Silo Pharma Inc. takes out the full calculated possible swing range there will be an estimated 15.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.88 (1.62%) than the support at $1.78 (3.78%), 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 Silo Pharma Inc. stock A Buy?
The Silo Pharma Inc. stock holds several negative signals and despite the positive trend, we believe Silo Pharma Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.984 Sell Candidate Unchanged
Predicted Opening Price for Silo Pharma Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $1.83 ( 1.26%) | $1.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SILO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.90 | 2.52 % | |
| R2 | 1.87 | 1.08 % | ||
| R1 | 1.85 | 0.184 % | ||
| Current price: | 1.85 | |||
| Support | S1 | 1.80 | -2.71 % | |
| S2 | 1.78 | -3.60 % | ||
| S3 | 1.76 | -5.05 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.14 | 15.68 % | |
| R2 | 2.10 | 13.51 % | ||
| R1 | 1.88 | 1.62 % | ||
| Current price | 1.85 | |||
| Support | S1 | 1.78 | -3.78% | |
| S2 | 1.69 | -8.65% | ||
| S3 | 1.62 | -12.43% |
FAQ
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