Suny Cellular Communication Ltd Stock Forecast

Suny Cellular Communication Ltd stock downgraded from Hold/Accumulate to Sell Candidate after Wednesday trading session.
(Updated on Jun 26, 2024)

SNCM.TA Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 0.406%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Suny Cellular Communication Ltd 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 ₪100.27 and ₪105.92. A break-up above any of these levels will issue buy signals. 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 for Suny Cellular Communication Ltd stock

Suny Cellular Communication Ltd finds support from accumulated volume at ₪98.60 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved ₪0.300 between high and low, or 0.304%. For the last week the stock has had daily average volatility of 1.41%.

Suny Cellular Communication Ltd is oversold on RSI14 (13). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (SNCM.TA) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect Suny Cellular Communication Ltd to open at ₪98.97, and during the day (based on 14 day Average True Range), to move between ₪96.59 and ₪101.41, which gives a possible trading interval of +/-₪2.41 (+/-2.44%) up or down from last closing price. If Suny Cellular Communication Ltd takes out the full calculated possible swing range there will be an estimated 4.88% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₪98.60 (0.40%) than the resistance at ₪102.70 (3.74%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Suny Cellular Communication Ltd stock A Buy?

Suny Cellular Communication Ltd holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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: -2.214 Sell Candidate Downgraded

Predicted Opening Price for Suny Cellular Communication Ltd of Thursday, June 27, 2024

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