São Martinho S.A. Stock Forecast
Weaker technical forecast for São Martinho S.A. as stock downgraded to Sell Candidate.
(Updated on May 20, 2024)
The São Martinho S.A. stock price gained 1.89% on the last trading day (Monday, 20th May 2024), rising from R$27.03 to R$27.54. During the last trading day the stock fluctuated 2.53% from a day low at R$26.92 to a day high of R$27.60. The price has fallen in 8 of the last 10 days and is down by -3.57% for this period. Volume fell on the last day by -69 thousand shares and in total, 880 thousand shares were bought and sold for approximately R$24.23 million. 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 lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at R$27.05 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 3.20% during the next 3 months and, with a 90% probability hold a price between R$27.91 and R$33.19 at the end of this 3-month period.
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SMTO3.SA Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, May 17, 2024, and so far it has risen 1.89%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The São Martinho S.A. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at R$27.60 and R$28.84. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for São Martinho S.A. stock
São Martinho S.A. finds support from accumulated volume at R$27.01 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved R$0.680 (2.53%) between high and low. For the last week, the stock has had daily average volatility of 2.40%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SMTO3.SA) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect São Martinho S.A. to open at R$27.35, and during the day (based on 14 day Average True Range), to move between R$26.72 and R$28.36, which gives a possible trading interval of +/-R$0.82 (+/-2.99%) 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 5.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at R$27.01 (1.92%) than the resistance at R$28.42 (3.20%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is São Martinho S.A. stock A Buy?
The São Martinho S.A. stock holds several negative signals and despite the positive trend, we believe São Martinho S.A. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.362 Sell Candidate Downgraded
Predicted Opening Price for São Martinho S.A. of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| R$27.35 ( 0.678%) | R$27.54 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SMTO3.SA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 28.03 | 1.79 % | |
| R2 | 27.77 | 0.85 % | ||
| R1 | 27.61 | 0.265 % | ||
| Current price: | 27.54 | |||
| Support | S1 | 27.09 | -1.62 % | |
| S2 | 26.93 | -2.20 % | ||
| S3 | 26.67 | -3.15 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 30.71 | 11.51 % | |
| R2 | 29.50 | 7.12 % | ||
| R1 | 28.42 | 3.20 % | ||
| Current price | 27.54 | |||
| Support | S1 | 27.01 | -1.92% | |
| S2 | 26.85 | -2.51% | ||
| S3 | 26.80 | -2.69% |
SMTO3 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 31, 2023 | Jul 31, 2023 | Jul 31, 2023 | R$0.794 | 2.37% |
| 2 | Jun 23, 2023 | Jun 23, 2023 | Jun 23, 2023 | R$0.447 | 1.24% |
| 3 | Dec 16, 2022 | Dec 16, 2022 | Dec 16, 2022 | R$0.404 | 1.73% |
| 4 | Aug 01, 2022 | Aug 01, 2022 | Aug 01, 2022 | R$0.397 | 1.18% |
| 5 | Jun 24, 2022 | Jun 24, 2022 | Jun 24, 2022 | R$0.332 | 0.84% |
FAQ
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