Suntex Enterprises, Inc. Stock Forecast

High volatility in Suntex Enterprises, Inc. stock price on Monday which ended trading at $0.0036
(Updated on Jun 17, 2024)

SNTX Signals & Forecast

The Suntex Enterprises, Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $0.0049. On a fall, the stock will find some support from the long-term average at approximately $0.0033. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Friday, May 31, 2024, and so far it has fallen -52.00%. 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). Suntex Enterprises, Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Suntex Enterprises, Inc. stock

Suntex Enterprises, Inc. finds support from accumulated volume at $0.0035 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0029 between high and low, or 93.55%. For the last week, the stock has had daily average volatility of 42.82%.

Our recommended stop-loss: $0.0034 (-5.10%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 32 days ago.)

Trading Expectations (SNTX) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect Suntex Enterprises, Inc. to open at $0.0042, and during the day (based on 14 day Average True Range), to move between $0.0021 and $0.0051, which gives a possible trading interval of +/-$0.0015 (+/-42.55%) up or down from last closing price. If Suntex Enterprises, Inc. takes out the full calculated possible swing range there will be an estimated 85.11% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0035 (2.78%) than the resistance at $0.0040 (11.11%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Suntex Enterprises, Inc. stock A Buy?

Suntex Enterprises, Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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 Strong Buy to a Hold/Accumulate candidate.

Current score: -0.047 Hold/Accumulate Downgraded

Predicted Opening Price for Suntex Enterprises, Inc. of Tuesday, June 18, 2024

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