Red day on Tuesday for Schmitt Industries, Inc
(Updated on Dec 07, 2021)
Buy or Hold candidate since 2021-11-19 Loss -1.08% PDF
The Schmitt Industries, Inc stock price fell by -0.18% on the last day (Tuesday, 7th Dec 2021) from $5.50 to $5.49. and has now fallen 3 days in a row. During the day the stock fluctuated 6.52% from a day low at $5.41 to a day high of $5.76. The price has been going up and down for this period, and there has been a -3.51% loss for the last 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 -8 thousand shares and in total, 9 thousand shares were bought and sold for approximately $50.95 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 41.34% during the next 3 months and, with a 90% probability hold a price between $7.11 and $9.85 at the end of this 3-month period.
Signals & Forecast
The Schmitt Industries, Inc stock holds a sell signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $5.82. On a fall, the stock will find some support from the long-term average at approximately $5.16. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Friday, November 26, 2021, and so far it has fallen -18.55%. 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). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss
On the downside, the stock finds support just below today's level from accumulated volume at $5.10 and $4.47. There is 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, Schmitt Industries, Inc finds support just below today's level at $5.10. If this is broken, then the next support from accumulated volume will be at $4.47 and $4.44.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.35 between high and low, or 6.52%. For the last week the stock has had a daily average volatility of 9.42%.
Our recommended stop-loss: $5.16 (-6.08%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 7 days ago.)
Is Schmitt Industries, 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 Schmitt Industries, Inc stock to perform well in the short-term.
Current score: 1.557
Predicted Opening Price for Schmitt Industries, Inc of Wednesday, December 8, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price December 8, 2021||Current price|
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