Sienna Resources Inc. Stock Forecast

Stronger technical forecast for Sienna Resources Inc. stock price after Tuesday trading.
(Updated on Jun 25, 2024)

SNNAF Signals & Forecast

The Sienna Resources Inc. 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 $0.0256 and $0.0217. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has fallen 0%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Sienna Resources Inc. stock

Sienna Resources Inc. finds support from accumulated volume at $0.0290 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 5.42%

Our recommended stop-loss: $0.0280 (-5.56%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)

Trading Expectations (SNNAF) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Sienna Resources Inc. to open at $0.0297, and during the day (based on 14 day Average True Range), to move between $0.0274 and $0.0320, which gives a possible trading interval of +/-$0.0023 (+/-7.60%) up or down from last closing price. If Sienna Resources Inc. takes out the full calculated possible swing range there will be an estimated 15.20% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0290 (2.36%) than the resistance at $0.0365 (22.90%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Sienna Resources Inc. 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.772 Buy Candidate Upgraded

Predicted Opening Price for Sienna Resources Inc. of Wednesday, June 26, 2024

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