Solitron Devices, Inc. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Solitron Devices, Inc. stock downgraded to Hold/Accumulate
(Updated on Jun 14, 2024)
The Solitron Devices, Inc. stock price gained 2.70% on the last trading day (Friday, 14th Jun 2024), rising from $18.50 to $19.00. During the last trading day the stock fluctuated 0% from a day low at $19.00 to a day high of $19.00. The price has risen in 5 of the last 10 days and is up by 4.74% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 more shares were traded than the day before. In total, 1 shares were bought and sold for approximately $19.00 .
The stock has broken the horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $18.87 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $20.13 sometime during the next 3 months.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
SODI Signals & Forecast
The Solitron Devices, 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 $18.35 and $18.16. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 5.56%. 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). Solitron Devices, Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Solitron Devices, Inc. stock
Solitron Devices, Inc. finds support from accumulated volume at $18.15 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 with good liquidity the risk is considered very low in this 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 0.99%.
Our recommended stop-loss: $18.28 (-3.78%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 59 days ago.)
Trading Expectations (SODI) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect Solitron Devices, Inc. to open at $19.00, and during the day (based on 14 day Average True Range), to move between $18.73 and $19.27, which gives a possible trading interval of +/-$0.269 (+/-1.42%) up or down from last closing price. If Solitron Devices, Inc. takes out the full calculated possible swing range there will be an estimated 2.84% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $18.15, some $0.85 (4.47%) from the current price of $19.00, our system finds the risk reward attractive.
Earnings coming up
Solitron Devices, Inc. will release earnings BMO on Friday, June 21, 2024. We will update the financials statements for Solitron Devices, Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 0.156% in the first trading day after earnings release.
Is Solitron Devices, Inc. stock A Buy?
Solitron Devices, Inc. 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: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Solitron Devices, Inc. of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| $19.00 ( 0%) | $19.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SODI
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 19.00 | - |
| R2 | 19.00 | - |
| R1 | 19.00 | - |
| Price | 19.00 | |
| S1 | 19.00 | - |
| S2 | 19.00 | - |
| S3 | 19.00 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 19.00 | |
| S1 | 18.15 | -4.47% |
| S2 | 18.00 | -5.26% |
| S3 | 17.75 | -6.58% |
SODI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 25, 2015 | Jun 25, 2015 | Jul 22, 2015 | $0.250 | 5.81% |
| 2 | Jun 05, 2014 | Jun 05, 2014 | Jun 05, 2014 | $0.0500 | 1.20% |
FAQ
Click here for our free guide on how to buy Solitron Devices, Inc. Stock.
