Summerset Group Holdings Limited Stock Forecast

Summerset Group Holdings Limited stock upgraded to Hold/Accumulate.
(Updated on May 09, 2024)

SNZ.AX Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, May 06, 2024, and so far it has fallen 0%. 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 Summerset Group Holdings Limited 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 $10.03 and $10.34. 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). Summerset Group Holdings Limited 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 Summerset Group Holdings Limited stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0400 between high and low, or 0.412%. For the last week, the stock has had daily average volatility of 1.69%.

Summerset Group Holdings Limited is oversold on RSI14 (5). 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: $9.15 (-5.90%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 5 which reduces the risk some. There is a buy signal from a pivot bottom found 3 days ago.)

Trading Expectations (SNZ.AX) For The Upcoming Trading Day Of Friday 10th

For the upcoming trading day on Friday, 10th we expect Summerset Group Holdings Limited to open at $9.73, and during the day (based on 14 day Average True Range), to move between $9.61 and $9.83, which gives a possible trading interval of +/-$0.112 (+/-1.15%) up or down from last closing price. If Summerset Group Holdings Limited takes out the full calculated possible swing range there will be an estimated 2.30% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $10.15, some $0.430 (4.42%) from the current price of $9.72, our system finds the risk reward not very attractive.

Is Summerset Group Holdings Limited stock A Buy?

Summerset Group Holdings Limited 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.393 Hold/Accumulate Upgraded

Predicted Opening Price for Summerset Group Holdings Limited of Friday, May 10, 2024

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