Selina Hospitality PLC Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Volatile ride for Selina Hospitality PLC stock price on Friday moving between $0.0951 and $0.205
(Updated on May 17, 2024)
The Selina Hospitality PLC stock price fell by -18.22% on the last day (Friday, 17th May 2024) from $0.135 to $0.110. During the last trading day the stock fluctuated 115.56% from a day low at $0.0951 to a day high of $0.205. The price has risen in 6 of the last 10 days and is up by 138.1% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -47 million shares and in total, 204 million shares were bought and sold for approximately $22.40 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.130 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SLNA Signals & Forecast
The Selina Hospitality PLC 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 $0.0823 and $0.0691. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen -18.22%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Selina Hospitality PLC stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0983. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.110 between high and low, or 115.56%. For the last week, the stock has had daily average volatility of 78.53%.
Our recommended stop-loss: $0.104 (-5.54%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (SLNA) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Selina Hospitality PLC to open at $0.137, and during the day (based on 14 day Average True Range), to move between $0.0795 and $0.141, which gives a possible trading interval of +/-$0.0305 (+/-27.76%) up or down from last closing price. If Selina Hospitality PLC takes out the full calculated possible swing range there will be an estimated 55.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0983 (10.64%) than the resistance at $0.122 (11.27%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Selina Hospitality PLC stock A Buy?
Selina Hospitality PLC 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.790 Hold/Accumulate Downgraded
Predicted Opening Price for Selina Hospitality PLC of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.137 ( 24.27%) | $0.110 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SLNA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.247 | 124.18 % | |
| R2 | 0.205 | 86.02 % | ||
| R1 | 0.179 | 62.44 % | ||
| Current price: | 0.110 | |||
| Support | S1 | 0.0947 | -13.89 % | |
| S2 | 0.0688 | -37.47 % | ||
| S3 | 0.0268 | -75.64 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0.135 | 22.27 % | ||
| R1 | 0.122 | 11.27 % | ||
| Current price | 0.110 | |||
| Support | S1 | 0.0983 | -10.64% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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