Somero Enterprises 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
Somero Enterprises Inc. stock price ended at £327.50 on Friday, after losing 0.758%.
(Updated on May 03, 2024)
The Somero Enterprises Inc. stock price fell by -0.758% on the last day (Friday, 3rd May 2024) from £330.00 to £327.50. During the last trading day the stock fluctuated 4.69% from a day low at £320.00 to a day high of £335.00. The price has risen in 4 of the last 10 days but is still down by -1.65% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -45 thousand shares and in total, 39 thousand shares were bought and sold for approximately £12.81 million.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Somero Enterprises Inc. stock with a 90% probability to be traded between £281.92 and £369.76 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SOM.L Signals & Forecast
There are few to no technical positive signals at the moment. The Somero Enterprises Inc. 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 £329.64 and £333.54. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -13.36%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Somero Enterprises Inc. stock
Somero Enterprises Inc. finds support from accumulated volume at £325.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 £15.00 between high and low, or 4.69%. For the last week, the stock has had daily average volatility of 4.67%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SOM.L) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Somero Enterprises Inc. to open at £327.50, and during the day (based on 14 day Average True Range), to move between £314.35 and £340.65, which gives a possible trading interval of +/-£13.15 (+/-4.01%) up or down from last closing price. If Somero Enterprises Inc. takes out the full calculated possible swing range there will be an estimated 8.03% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £330.00 (0.76%) than the support at £325.00 (0.76%), 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 Somero Enterprises Inc. stock A Buy?
Somero Enterprises Inc. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -1.922 Sell Candidate Unchanged
Predicted Opening Price for Somero Enterprises Inc. of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| £327.50 ( 0%) | £327.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SOM.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 342.50 | 4.58 % | |
| R2 | 336.77 | 2.83 % | ||
| R1 | 333.23 | 1.75 % | ||
| Current price: | 327.50 | |||
| Support | S1 | 321.77 | -1.75 % | |
| S2 | 318.23 | -2.83 % | ||
| S3 | 312.50 | -4.58 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 335.00 | 2.29 % | |
| R2 | 332.00 | 1.37 % | ||
| R1 | 330.00 | 0.763 % | ||
| Current price | 327.50 | |||
| Support | S1 | 325.00 | -0.763% | |
| S2 | 320.00 | -2.29% | ||
| S3 | 295.00 | -9.92% |
SOM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 11, 2024 | Apr 11, 2024 | May 10, 2024 | £16.17 | 4.94% |
| 2 | Mar 08, 2023 | Apr 06, 2023 | May 05, 2023 | £25.48 | 7.72% |
| 3 | Sep 07, 2022 | Sep 22, 2022 | Oct 21, 2022 | £10.00 | 2.58% |
| 4 | Mar 09, 2022 | Apr 07, 2022 | May 06, 2022 | £19.70 | 4.93% |
| 5 | Sep 08, 2021 | Sep 23, 2021 | Oct 22, 2021 | £9.00 | 1.80% |
FAQ
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