São Martinho S.A. Stock Forecast

São Martinho S.A. stock upgraded to Hold/Accumulate.
(Updated on May 02, 2024)

SMTO3.SA Signals & Forecast

There are mixed signals in the stock today. The São Martinho S.A. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at R$29.05. On a fall, the stock will find some support from the short-term average at R$28.34. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 3.61%. Further rise is indicated until a new top pivot has been found.

Support, Risk & Stop-loss for São Martinho S.A. stock

On the downside, the stock finds support just below today's level from accumulated volume at R$26.64 and R$26.12. There is a 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, São Martinho S.A. finds support just below today's level at R$26.64. If this is broken, then the next support from accumulated volume will be at R$26.12 and R$26.03.

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 R$0.85 between high and low, or 3.00%. For the last week, the stock has had daily average volatility of 2.52%.

Our recommended stop-loss: R$27.25 (-4.02%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)

Trading Expectations (SMTO3.SA) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect São Martinho S.A. to open at R$28.61, and during the day (based on 14 day Average True Range), to move between R$27.51 and R$29.27, which gives a possible trading interval of +/-R$0.88 (+/-3.08%) up or down from last closing price. If São Martinho S.A. takes out the full calculated possible swing range there will be an estimated 6.17% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at R$28.42 (0.11%) than the support at R$26.64 (6.16%), 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 São Martinho S.A. stock A Buy?

São Martinho S.A. 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Upgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for São Martinho S.A. of Friday, May 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.