Strategic Elements Ltd Stock Forecast

Red day on Friday for Strategic Elements Ltd stock after losing 0%
(Updated on May 17, 2024)

SOR.AX Signals & Forecast

There are mixed signals in the stock today. The Strategic Elements Ltd 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 $0.0613 and $0.0637. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has risen 1.67%. 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). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Strategic Elements Ltd stock

Strategic Elements Ltd finds support from accumulated volume at $0.0600 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 $0.0010 between high and low, or 1.67%. For the last week, the stock has had daily average volatility of 1.98%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (SOR.AX) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Strategic Elements Ltd to open at $0.0607, and during the day (based on 14 day Average True Range), to move between $0.0591 and $0.0629, which gives a possible trading interval of +/-$0.0019 (+/-3.09%) up or down from last closing price. If Strategic Elements Ltd takes out the full calculated possible swing range there will be an estimated 6.19% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0620 (1.64%) than the support at $0.0600 (1.64%), 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 Strategic Elements Ltd stock A Buy?

Strategic Elements Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -4.299 Sell Candidate Unchanged

Predicted Opening Price for Strategic Elements Ltd of Monday, May 20, 2024

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