Silo Pharma Inc. Stock Forecast
On Friday, Silo Pharma Inc. stock price gained an impressive 6.91%
(Updated on May 17, 2024)
The Silo Pharma Inc. stock price gained 6.91% on the last trading day (Friday, 17th May 2024), rising from $1.88 to $2.01. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 9.68% from a day low at $1.86 to a day high of $2.04. The price has risen in 6 of the last 10 days and is up by 8.65% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 32 thousand more shares were traded than the day before. In total, 54 thousand shares were bought and sold for approximately $108.93 thousand.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 16.08% during the next 3 months and, with a 90% probability hold a price between $1.98 and $2.65 at the end of this 3-month period.
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SILO Signals & Forecast
Mostly positive signals in the chart today. The Silo Pharma Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $1.82 and $1.90. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, May 10, 2024, and so far it has risen 19.64%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Silo Pharma Inc. 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.
Support, Risk & Stop-loss for Silo Pharma Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.88 and $1.78. 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, Silo Pharma Inc. finds support just below today's level at $1.88. If this is broken, then the next support from accumulated volume will be at $1.78 and $1.62.
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 $0.180 between high and low, or 9.68%. For the last week, the stock has had daily average volatility of 6.54%.
Our recommended stop-loss: $1.93 (-3.84%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (SILO) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Silo Pharma Inc. to open at $1.97, and during the day (based on 14 day Average True Range), to move between $1.89 and $2.13, which gives a possible trading interval of +/-$0.124 (+/-6.19%) up or down from last closing price. If Silo Pharma Inc. takes out the full calculated possible swing range there will be an estimated 12.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.05 (1.94%) than the support at $1.88 (6.47%), 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?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Silo Pharma Inc. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.764 Buy Candidate Upgraded
Predicted Opening Price for Silo Pharma Inc. of Monday, May 20, 2024
Fair opening price May 20, 2024 | Current price |
---|---|
$1.97 ( 1.99%) | $2.01 |
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 | 2.15 | 6.97 % | |
R2 | 2.08 | 3.54 % | ||
R1 | 2.04 | 1.43 % | ||
Current price: | 2.01 | |||
Support | S1 | 1.90 | -5.41 % | |
S2 | 1.86 | -7.52 % | ||
S3 | 1.79 | -10.95 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.14 | 6.47 % | |
R2 | 2.10 | 4.48 % | ||
R1 | 2.05 | 1.94 % | ||
Current price | 2.01 | |||
Support | S1 | 1.88 | -6.47% | |
S2 | 1.78 | -11.44% | ||
S3 | 1.62 | -19.40% |
FAQ
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