SPI Energy Co Ltd Stock Forecast
Volatile ride for SPI Energy Co Ltd stock price on Thursday moving between $0.450 and $0.510
(Updated on Jun 20, 2024)
The SPI Energy Co Ltd stock price fell by -5.24% on the last day (Thursday, 20th Jun 2024) from $0.483 to $0.458. During the last trading day the stock fluctuated 13.31% from a day low at $0.450 to a day high of $0.510. The price has fallen in 7 of the last 10 days and is down by -18.82% 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 -85 thousand shares and in total, 77 thousand shares were bought and sold for approximately $35.16 thousand.
The stock has broken the very wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($0.463) are considered to be a "second chance" to get out. According to the fan-theory $0.275 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
SPI Signals & Forecast
There are few to no technical positive signals at the moment. The SPI Energy Co 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 $0.501 and $0.548. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -30.65%. 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 along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for SPI Energy Co Ltd stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0599 between high and low, or 13.31%. For the last week the stock has had daily average volatility of 8.88%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SPI) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect SPI Energy Co Ltd to open at $0.473, and during the day (based on 14 day Average True Range), to move between $0.413 and $0.503, which gives a possible trading interval of +/-$0.0449 (+/-9.82%) up or down from last closing price. If SPI Energy Co Ltd takes out the full calculated possible swing range there will be an estimated 19.64% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.519, some $0.0613 (13.39%) from the current price of $0.458, our system finds the risk reward not very attractive.
Earnings coming up
SPI Energy Co Ltd will release earnings BMO on Monday, June 24, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.0700. We will update the financials statements for SPI Energy Co Ltd, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 10.05% in the first trading day after earnings release.
Is SPI Energy Co Ltd stock A Buy?
SPI Energy Co Ltd 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: -4.765 Sell Candidate Unchanged
Predicted Opening Price for SPI Energy Co Ltd of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| $0.473 ( 3.24%) | $0.458 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SPI
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.532 | 16.33% |
| R2 | 0.510 | 11.33% |
| R1 | 0.495 | 8.24% |
| Price | 0.458 | |
| S1 | 0.450 | -1.76% |
| S2 | 0.436 | -4.85% |
| S3 | 0.413 | -9.85% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.565 | 23.47% |
| R2 | 0.525 | 14.70% |
| R1 | 0.519 | 13.39% |
| Price | 0.458 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
Click here for our free guide on how to buy SPI Energy Co Ltd Stock.
