Sound Energy Plc Stock Forecast
High volatility in Sound Energy Plc stock price on Monday which ended trading at £1.03
(Updated on Jul 01, 2024)
The Sound Energy Plc stock price gained 16.72% on the last trading day (Monday, 1st Jul 2024), rising from £0.88 to £1.03. During the last trading day the stock fluctuated 32.79% from a day low at £0.87 to a day high of £1.15. The price has fallen in 7 of the last 10 days but is still up by 2.5% 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, 15 million more shares were traded than the day before. In total, 18 million shares were bought and sold for approximately £18.07 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 11.76% during the next 3 months and, with a 90% probability hold a price between £0.94 and £1.24 at the end of this 3-month period.
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SOU.L Signals & Forecast
The Sound Energy Plc 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 £0.94 and £0.92. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 28, 2024, and so far it has risen 16.72%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Sound Energy Plc stock
Sound Energy Plc finds support from accumulated volume at £1.00 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved £0.284 between high and low, or 32.79%. For the last week, the stock has had daily average volatility of 13.43%.
Our recommended stop-loss: £0.99 (-3.66%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (SOU.L) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Sound Energy Plc to open at £1.01, and during the day (based on 14 day Average True Range), to move between £0.91 and £1.14, which gives a possible trading interval of +/-£0.116 (+/-11.28%) up or down from last closing price. If Sound Energy Plc takes out the full calculated possible swing range there will be an estimated 22.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £1.03 (0.73%) than the support at £1.00 (2.44%), 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 Sound Energy Plc stock A Buy?
Sound Energy Plc holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 7.532 Strong Buy Candidate Upgraded
Predicted Opening Price for Sound Energy Plc of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| £1.01 ( 1.11%) | £1.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SOU.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.30 | 26.60% |
| R2 | 1.19 | 16.02% |
| R1 | 1.12 | 9.48% |
| Price | 1.03 | |
| S1 | 0.91 | -11.69% |
| S2 | 0.84 | -18.23% |
| S3 | 0.730 | -28.81% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.06 | 3.41% |
| R2 | 1.04 | 1.71% |
| R1 | 1.03 | 0.732% |
| Price | 1.03 | |
| S1 | 1.00 | -2.44% |
| S2 | 0.98 | -4.39% |
| S3 | 0.775 | -24.39% |
FAQ
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