Superloop Limited Stock Forecast
Superloop Limited stock upgraded from Hold/Accumulate to Strong Buy Candidate after Tuesday trading session.
(Updated on May 21, 2024)
The Superloop Limited stock price gained 3.01% on the last trading day (Tuesday, 21st May 2024), rising from $1.33 to $1.37. During the last trading day the stock fluctuated 4.17% from a day low at $1.32 to a day high of $1.38. The price has been going up and down for this period, and there has been a 3.01% gain for the last 2 weeks. Volume fell on the last day by -63 thousand shares and in total, 383 thousand shares were bought and sold for approximately $524.47 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock has broken the wide and strong rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $1.41. A reaction back to this level may hold a second chance to get out before further falls.
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SLC.AX Signals & Forecast
The Superloop Limited 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 $1.34 and $1.32. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 18, 2024, and so far it has risen 16.60%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Superloop Limited stock
Superloop Limited finds support from accumulated volume at $1.34 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.0550 between high and low, or 4.17%. For the last week the stock has had daily average volatility of 3.13%
Our recommended stop-loss: $1.33 (-3.26%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 45 days ago.)
Trading Expectations (SLC.AX) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect Superloop Limited to open at $1.36, and during the day (based on 14 day Average True Range), to move between $1.32 and $1.42, which gives a possible trading interval of +/-$0.0454 (+/-3.31%) up or down from last closing price. If Superloop Limited takes out the full calculated possible swing range there will be an estimated 6.62% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $1.34, some $0.0350 (2.55%) from the current price of $1.37, our system finds the risk reward attractive.
Is Superloop Limited stock A Buy?
Superloop Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 6.193 Strong Buy Candidate Upgraded
Predicted Opening Price for Superloop Limited of Wednesday, May 22, 2024
| Fair opening price May 22, 2024 | Current price |
|---|---|
| $1.36 ( 1.09%) | $1.37 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SLC.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.41 | 2.92 % | |
| R2 | 1.39 | 1.39 % | ||
| R1 | 1.38 | 0.439 % | ||
| Current price: | 1.37 | |||
| Support | S1 | 1.33 | -2.63 % | |
| S2 | 1.32 | -3.58 % | ||
| S3 | 1.30 | -5.11 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 1.37 | |||
| Support | S1 | 1.34 | -2.55% | |
| S2 | 1.31 | -4.38% | ||
| S3 | 1.18 | -14.23% |
SLC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 28, 2017 | Sep 01, 2017 | Sep 18, 2017 | $0.0048 | 0.194% |
FAQ
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