Sacks Parente Golf, Inc. Stock Forecast
Big movements in Sacks Parente Golf, Inc. stock price on Friday moving 16.67% between high and low
(Updated on Jun 28, 2024)
The Sacks Parente Golf, Inc. stock price gained 1.73% on the last trading day (Friday, 28th Jun 2024), rising from $0.520 to $0.529. During the last trading day the stock fluctuated 16.67% from a day low at $0.480 to a day high of $0.560. The price has been going up and down for this period, and there has been a 4.75% gain for the last 2 weeks. Volume fell on the last day by -339 thousand shares and in total, 89 thousand shares were bought and sold for approximately $46.98 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 Sacks Parente Golf, Inc. stock with a 90% probability to be traded between $0.401 and $0.599 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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SPGC Signals & Forecast
The Sacks Parente Golf, 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 $0.519 and $0.514. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, May 29, 2024, and so far it has fallen -11.69%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Sacks Parente Golf, Inc. stock
Sacks Parente Golf, Inc. finds support from accumulated volume at $0.520 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0800 between high and low, or 16.67%. For the last week the stock has had daily average volatility of 14.41%.
Our recommended stop-loss: $0.501 (-5.30%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 47 days ago.)
Trading Expectations (SPGC) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Sacks Parente Golf, Inc. to open at $0.523, and during the day (based on 14 day Average True Range), to move between $0.453 and $0.605, which gives a possible trading interval of +/-$0.0761 (+/-14.39%) up or down from last closing price. If Sacks Parente Golf, Inc. takes out the full calculated possible swing range there will be an estimated 28.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.520 (1.70%) than the resistance at $0.541 (2.27%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sacks Parente Golf, Inc. stock A Buy?
Sacks Parente Golf, 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.588 Hold/Accumulate Upgraded
Predicted Opening Price for Sacks Parente Golf, Inc. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $0.523 ( 1.13%) | $0.529 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SPGC
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.603 | 13.99% |
| R2 | 0.572 | 8.21% |
| R1 | 0.554 | 4.64% |
| Price | 0.529 | |
| S1 | 0.492 | -6.91% |
| S2 | 0.474 | -10.48% |
| S3 | 0.443 | -16.26% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.580 | 9.64% |
| R2 | 0.550 | 3.97% |
| R1 | 0.541 | 2.27% |
| Price | 0.529 | |
| S1 | 0.520 | -1.70% |
| S2 | 0.465 | -12.12% |
| S3 | 0.463 | -12.56% |
FAQ
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