Smartpay Holdings Limited Stock Forecast
Smartpay Holdings Limited stock price ended at $1.29 on Friday, after gaining 4.03%.
(Updated on May 31, 2024)
The Smartpay Holdings Limited stock price gained 4.03% on the last trading day (Friday, 31st May 2024), rising from $1.24 to $1.29. During the last trading day the stock fluctuated 5.26% from a day low at $1.24 to a day high of $1.30. The price has risen in 5 of the last 10 days and is up by 13.16% 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, 10 thousand more shares were traded than the day before. In total, 84 thousand shares were bought and sold for approximately $108.79 thousand.
Given the current short-term trend, the stock is expected to fall -16.91% during the next 3 months and, with a 90% probability hold a price between $0.90 and $1.07 at the end of this 3-month period. 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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SMP.AX Signals & Forecast
Mostly positive signals in the chart today. The Smartpay Holdings 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 $1.24 and $1.23. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 22, 2024, and so far it has risen 16.22%. 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). Smartpay Holdings Limited 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 Smartpay Holdings Limited stock
Smartpay Holdings Limited finds support from accumulated volume at $1.26 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.0650 between high and low, or 5.26%. For the last week, the stock has had daily average volatility of 4.80%.
Our recommended stop-loss: $1.23 (-4.44%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 16 days ago.)
Trading Expectations (SMP.AX) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Smartpay Holdings Limited to open at $1.28, and during the day (based on 14 day Average True Range), to move between $1.23 and $1.35, which gives a possible trading interval of +/-$0.0552 (+/-4.28%) up or down from last closing price. If Smartpay Holdings Limited takes out the full calculated possible swing range there will be an estimated 8.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.30 (0.78%) than the support at $1.26 (2.33%), 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 Smartpay Holdings Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 1.630 Buy Candidate Unchanged
Predicted Opening Price for Smartpay Holdings Limited of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| $1.28 ( 1.16%) | $1.29 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SMP.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.34 | 3.88 % | |
| R2 | 1.32 | 1.95 % | ||
| R1 | 1.30 | 0.762 % | ||
| Current price: | 1.29 | |||
| Support | S1 | 1.25 | -3.09 % | |
| S2 | 1.23 | -4.28 % | ||
| S3 | 1.21 | -6.20 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.40 | 8.53 % | |
| R2 | 1.39 | 7.75 % | ||
| R1 | 1.30 | 0.775 % | ||
| Current price | 1.29 | |||
| Support | S1 | 1.26 | -2.33% | |
| S2 | 1.15 | -10.85% | ||
| S3 | 1.11 | -13.95% |
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