Sequans Communications SA Stock Forecast
Green day on Friday for Sequans Communications SA stock after gaining 2.40%
(Updated on Apr 26, 2024)
The Sequans Communications SA stock price gained 2.40% on the last trading day (Friday, 26th Apr 2024), rising from $0.513 to $0.525. During the last trading day the stock fluctuated 8.34% from a day low at $0.513 to a day high of $0.556. The price has been going up and down for this period, and there has been a -7.7% loss for the last 2 weeks. Volume fell on the last day by -109 thousand shares and in total, 53 thousand shares were bought and sold for approximately $27.99 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 stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.209, a level that may pose a second chance to hit a runner. According to fan-theory $0.96 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SQNS Signals & Forecast
The Sequans Communications SA stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $0.530. On a fall, the stock will find some support from the long-term average at approximately $0.500. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Tuesday, April 16, 2024, and so far it has fallen -10.21%. 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 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 Sequans Communications SA stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.491 and $0.445. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Sequans Communications SA finds support just below today's level at $0.491. If this is broken, then the next support from accumulated volume will be at $0.445 and $0.400.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0428 between high and low, or 8.34%. For the last week the stock has had daily average volatility of 13.16%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SQNS) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Sequans Communications SA to open at $0.531, and during the day (based on 14 day Average True Range), to move between $0.458 and $0.593, which gives a possible trading interval of +/-$0.0676 (+/-12.87%) up or down from last closing price. If Sequans Communications SA takes out the full calculated possible swing range there will be an estimated 25.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.491 (6.51%) than the resistance at $0.560 (6.63%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Sequans Communications SA will release earnings BMO on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.150. We will update the financials statements for Sequans Communications SA, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 14.30% in the first trading day after earnings release.
Is Sequans Communications SA stock A Buy?
Sequans Communications SA 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: -1.827 Sell Candidate Unchanged
Predicted Opening Price for Sequans Communications SA of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $0.531 ( 1.17%) | $0.525 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SQNS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.574 | 9.32 % | |
| R2 | 0.558 | 6.20 % | ||
| R1 | 0.548 | 4.28 % | ||
| Current price: | 0.525 | |||
| Support | S1 | 0.515 | -1.95 % | |
| S2 | 0.505 | -3.87 % | ||
| S3 | 0.489 | -6.98 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.605 | 15.19 % | |
| R2 | 0.561 | 6.82 % | ||
| R1 | 0.560 | 6.63 % | ||
| Current price | 0.525 | |||
| Support | S1 | 0.491 | -6.51% | |
| S2 | 0.445 | -15.33% | ||
| S3 | 0.400 | -23.84% |
FAQ
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