SenSen Networks Limited Stock Forecast
Evaluation of SenSen Networks Limited stock downgraded after the last trading session.
(Updated on May 17, 2024)
No changes to the price of SenSen Networks Limited stock on the last trading day (Friday, 17th May 2024). During the last trading day the stock fluctuated 0% from a day low at $0.0250 to a day high of $0.0250. The price has been going up and down for this period, and there has been a -7.41% loss for the last 2 weeks.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -6.93% during the next 3 months and, with a 90% probability hold a price between $0.0173 and $0.0276 at the end of this 3-month period.
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SNS.AX Signals & Forecast
The SenSen Networks Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.0229 and $0.0237. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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.
A buy signal from a double bottom formation was found on Wednesday, April 03, 2024 and based on theory for this formation the price should go up by 1.33% to $0.0253 within 9 trading days since signal was issued (Monday, May 20, 2024).
Support, Risk & Stop-loss for SenSen Networks Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0220 and $0.0210. 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, SenSen Networks Limited finds support just below today's level at $0.0220. If this is broken, then the next support from accumulated volume will be at $0.0210 and $0.0200.
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 1.74%
Our recommended stop-loss: $0.0240 (-4.12%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (SNS.AX) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect SenSen Networks Limited to open at $0.0250, and during the day (based on 14 day Average True Range), to move between $0.0235 and $0.0265, which gives a possible trading interval of +/-$0.0015 (+/-5.81%) up or down from last closing price. If SenSen Networks Limited takes out the full calculated possible swing range there will be an estimated 11.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0260 (4.00%) than the support at $0.0220 (12.00%), 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 SenSen Networks Limited stock A Buy?
SenSen Networks Limited 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.674 Hold/Accumulate Downgraded
Predicted Opening Price for SenSen Networks Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.0250 ( 0.00000000%) | $0.0250 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SNS.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0250 | 0.00000000 % | |
| R2 | 0.0250 | 0.00000000 % | ||
| R1 | 0.0250 | 0.00000000 % | ||
| Current price: | 0.0250 | |||
| Support | S1 | 0.0250 | 0.00000000 % | |
| S2 | 0.0250 | 0.00000000 % | ||
| S3 | 0.0250 | 0.00000000 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0290 | 16.00 % | |
| R2 | 0.0280 | 12.00 % | ||
| R1 | 0.0260 | 4.00 % | ||
| Current price | 0.0250 | |||
| Support | S1 | 0.0220 | -12.00% | |
| S2 | 0.0210 | -16.00% | ||
| S3 | 0.0200 | -20.00% |
FAQ
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