Smartgroup Corporation Ltd Stock Forecast
Red day on Friday for Smartgroup Corporation Ltd stock after losing 1.31%
(Updated on May 17, 2024)
The Smartgroup Corporation Ltd stock price fell by -1.31% on the last day (Friday, 17th May 2024) from $8.41 to $8.30. During the last trading day the stock fluctuated 2.06% from a day low at $8.27 to a day high of $8.44. The price has fallen in 5 of the last 10 days and is down by -5.57% for this period. Volume has increased on the last day by 101 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 345 thousand shares were bought and sold for approximately $2.86 million.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $8.06 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -12.69% during the next 3 months and, with a 90% probability hold a price between $7.04 and $8.51 at the end of this 3-month period.
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SIQ.AX Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, May 10, 2024, and so far it has risen 1.47%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Smartgroup Corporation Ltd 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 $8.32 and $9.38. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Smartgroup Corporation Ltd stock
Smartgroup Corporation Ltd finds support from accumulated volume at $8.21 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.170 between high and low, or 2.06%. For the last week, the stock has had daily average volatility of 2.30%.
Smartgroup Corporation Ltd is oversold on RSI14 (20). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SIQ.AX) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Smartgroup Corporation Ltd to open at $8.34, and during the day (based on 14 day Average True Range), to move between $8.03 and $8.57, which gives a possible trading interval of +/-$0.266 (+/-3.21%) up or down from last closing price. If Smartgroup Corporation Ltd takes out the full calculated possible swing range there will be an estimated 6.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $8.36 (0.72%) than the support at $8.21 (1.08%), 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 Smartgroup Corporation Ltd stock A Buy?
Smartgroup Corporation Ltd holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.525 Sell Candidate Unchanged
Predicted Opening Price for Smartgroup Corporation Ltd of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $8.34 ( 0.442%) | $8.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SIQ.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.51 | 2.49 % | |
| R2 | 8.44 | 1.71 % | ||
| R1 | 8.40 | 1.22 % | ||
| Current price: | 8.30 | |||
| Support | S1 | 8.27 | -0.341 % | |
| S2 | 8.23 | -0.82 % | ||
| S3 | 8.17 | -1.61 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.68 | 16.63 % | |
| R2 | 9.19 | 10.72 % | ||
| R1 | 8.36 | 0.723 % | ||
| Current price | 8.30 | |||
| Support | S1 | 8.21 | -1.08% | |
| S2 | 8.18 | -1.45% | ||
| S3 | 0 | . |
SIQ Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 06, 2024 | Mar 06, 2024 | Mar 21, 2024 | $0.320 | 3.43% |
| 2 | Mar 08, 2023 | Mar 08, 2023 | Mar 08, 2023 | $0.140 | 2.23% |
| 3 | Sep 08, 2022 | Sep 08, 2022 | Sep 08, 2022 | $0.170 | 2.93% |
| 4 | Mar 08, 2022 | Mar 08, 2022 | Mar 08, 2022 | $0.300 | 3.89% |
| 5 | Sep 01, 2021 | Sep 01, 2021 | Sep 01, 2021 | $0.175 | 2.20% |
FAQ
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