Sequans Communications SA Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Sequans Communications SA stock price down 0.457% on Monday
(Updated on May 06, 2024)
The Sequans Communications SA stock price fell by -0.457% on the last day (Monday, 6th May 2024) from $0.547 to $0.544. During the last trading day the stock fluctuated 9.26% from a day low at $0.500 to a day high of $0.546. The price has risen in 7 of the last 10 days and is up by 7.94% over the past 2 weeks. 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 -98 thousand shares and in total, 38 thousand shares were bought and sold for approximately $20.91 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 $0.104, a level that may pose a second chance to hit a runner. According to fan-theory $0.717 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 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 $0.499. A breakdown below any of these levels will issue sell signals. 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 -6.99%. 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 Sequans Communications SA stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.491 and $0.469. 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 $0.469 and $0.445.
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 $0.0463 between high and low, or 9.26%. For the last week the stock has had daily average volatility of 11.55%.
Our recommended stop-loss: $0.517 (-4.96%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (SQNS) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Sequans Communications SA to open at $0.530, and during the day (based on 14 day Average True Range), to move between $0.481 and $0.607, which gives a possible trading interval of +/-$0.0632 (+/-11.62%) up or down from last closing price. If Sequans Communications SA takes out the full calculated possible swing range there will be an estimated 23.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.560 (2.94%) than the support at $0.491 (9.74%), 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 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: 0.227 Hold/Accumulate Unchanged
Predicted Opening Price for Sequans Communications SA of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $0.530 ( 2.56%) | $0.544 |
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 | 0.576 | 5.96 % | |
| R2 | 0.559 | 2.70 % | ||
| R1 | 0.548 | 0.696 % | ||
| Current price: | 0.544 | |||
| Support | S1 | 0.512 | -5.81 % | |
| S2 | 0.501 | -7.81 % | ||
| S3 | 0.484 | -11.07 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.670 | 23.16 % | |
| R2 | 0.561 | 3.13 % | ||
| R1 | 0.560 | 2.94 % | ||
| Current price | 0.544 | |||
| Support | S1 | 0.491 | -9.74% | |
| S2 | 0.469 | -13.73% | ||
| S3 | 0.445 | -18.25% |
FAQ
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