Serabi Gold PLC Stock Forecast
Serabi Gold PLC stock upgraded to Sell Candidate.
(Updated on May 03, 2024)
The Serabi Gold PLC stock price gained 0.794% on the last trading day (Friday, 3rd May 2024), rising from £63.00 to £63.50. During the last trading day the stock fluctuated 2.70% from a day low at £63.00 to a day high of £64.70. The price has fallen in 5 of the last 10 days and is down by -2.31% for this period. Volume fell on the last day by -86 thousand shares and in total, 132 thousand shares were bought and sold for approximately £8.38 million. 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 lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £61.39 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 31.51% during the next 3 months and, with a 90% probability hold a price between £80.74 and £99.06 at the end of this 3-month period.
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SRB.L Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Serabi Gold PLC stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at £63.87 and £63.50. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -8.63%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Serabi Gold PLC stock
Serabi Gold PLC finds support from accumulated volume at £63.00 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved £1.70 between high and low, or 2.70%. For the last week, the stock has had daily average volatility of 3.75%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SRB.L) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Serabi Gold PLC to open at £63.73, and during the day (based on 14 day Average True Range), to move between £60.63 and £66.37, which gives a possible trading interval of +/-£2.87 (+/-4.52%) up or down from last closing price. If Serabi Gold PLC takes out the full calculated possible swing range there will be an estimated 9.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £64.00 (0.79%) than the support at £63.00 (0.79%), 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 Serabi Gold PLC stock A Buy?
The Serabi Gold PLC stock holds several negative signals and despite the positive trend, we believe Serabi Gold PLC will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -1.658 Sell Candidate Upgraded
Predicted Opening Price for Serabi Gold PLC of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| £63.73 ( 0.367%) | £63.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SRB.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 65.43 | 3.04 % | |
| R2 | 64.78 | 2.02 % | ||
| R1 | 64.38 | 1.39 % | ||
| Current price: | 63.50 | |||
| Support | S1 | 63.08 | -0.655 % | |
| S2 | 62.68 | -1.29 % | ||
| S3 | 62.03 | -2.31 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 69.00 | 8.66 % | |
| R2 | 65.00 | 2.36 % | ||
| R1 | 64.00 | 0.787 % | ||
| Current price | 63.50 | |||
| Support | S1 | 63.00 | -0.787% | |
| S2 | 61.00 | -3.94% | ||
| S3 | 60.00 | -5.51% |
FAQ
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