Sequans Communications SA Stock Forecast
Sequans Communications SA stock price ended at $0.520 on Tuesday, after losing 4.41%.
(Updated on May 07, 2024)
The Sequans Communications SA stock price fell by -4.41% on the last day (Tuesday, 7th May 2024) from $0.544 to $0.520. During the last trading day the stock fluctuated 8.72% from a day low at $0.515 to a day high of $0.560. The price has risen in 6 of the last 10 days and is up by 1.92% over the past 2 weeks. Volume has increased on the last day by 24 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 63 thousand shares were bought and sold for approximately $32.50 thousand.
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 $0.106, a level that may pose a second chance to hit a runner. According to fan-theory $0.692 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
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, April 16, 2024, and so far it has fallen -11.10%. 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). Sequans Communications SA gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued. The Sequans Communications SA 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 $0.520 and $0.500. A breakdown below any of these levels will issue sell signals.
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 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 $0.0449 between high and low, or 8.72%. For the last week, the stock has had daily average volatility of 10.72%.
Our recommended stop-loss: $0.499 (-4.13%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (SQNS) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Sequans Communications SA to open at $0.532, and during the day (based on 14 day Average True Range), to move between $0.458 and $0.582, which gives a possible trading interval of +/-$0.0622 (+/-11.97%) up or down from last closing price. If Sequans Communications SA takes out the full calculated possible swing range there will be an estimated 23.93% 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 (5.58%) than the resistance at $0.560 (7.69%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sequans Communications SA stock A Buy?
Sequans Communications SA 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.
Current score: -0.186 Hold/Accumulate Unchanged
Predicted Opening Price for Sequans Communications SA of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $0.532 ( 2.25%) | $0.520 |
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 | 0.577 | 10.88 % | |
| R2 | 0.559 | 7.59 % | ||
| R1 | 0.549 | 5.55 % | ||
| Current price: | 0.520 | |||
| Support | S1 | 0.515 | -1.05 % | |
| S2 | 0.504 | -3.09 % | ||
| S3 | 0.487 | -6.38 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.605 | 16.35 % | |
| R2 | 0.561 | 7.88 % | ||
| R1 | 0.560 | 7.69 % | ||
| Current price | 0.520 | |||
| Support | S1 | 0.491 | -5.58% | |
| S2 | 0.445 | -14.48% | ||
| S3 | 0.400 | -23.08% |
FAQ
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