Sparta Commercial Services, Inc. Stock Forecast
Sparta Commercial Services, Inc. stock price ended at $0.112 on Tuesday, after losing 2.26%.
(Updated on Jun 25, 2024)
The Sparta Commercial Services, Inc. stock price fell by -2.26% on the last day (Tuesday, 25th Jun 2024) from $0.115 to $0.112. During the last trading day the stock fluctuated 0% from a day low at $0.112 to a day high of $0.112. The price has been going up and down for this period, and there has been a 12.46% gain for the last 2 weeks. Volume has increased on the last day by 2 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, 2 thousand shares were bought and sold for approximately $168.60 .
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.114 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -26.67% during the next 3 months and, with a 90% probability hold a price between $0.0503 and $0.0838 at the end of this 3-month period. 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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SRCO Signals & Forecast
The Sparta Commercial Services, Inc. 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 $0.108 and $0.102. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Monday, June 24, 2024, and so far it has fallen -2.26%. Further fall is indicated until a new bottom pivot has been found. Sparta Commercial Services, Inc. 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.
Support, Risk & Stop-loss for Sparta Commercial Services, Inc. stock
Sparta Commercial Services, Inc. finds support from accumulated volume at $0.110 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0 between high and low, or 0%. For the last week, the stock has had daily average volatility of 3.47%.
Our recommended stop-loss: $0.109 (-3.39%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (SRCO) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Sparta Commercial Services, Inc. to open at $0.112, and during the day (based on 14 day Average True Range), to move between $0.105 and $0.119, which gives a possible trading interval of +/-$0.0070 (+/-6.24%) up or down from last closing price. If Sparta Commercial Services, Inc. takes out the full calculated possible swing range there will be an estimated 12.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.110 (2.14%) than the resistance at $0.120 (6.76%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sparta Commercial Services, Inc. stock A Buy?
Sparta Commercial Services, Inc. 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: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Sparta Commercial Services, Inc. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $0.112 ( 0%) | $0.112 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SRCO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.112 | - |
| R2 | 0.112 | - |
| R1 | 0.112 | - |
| Price | 0.112 | |
| S1 | 0.112 | - |
| S2 | 0.112 | - |
| S3 | 0.112 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.140 | 24.56% |
| R2 | 0.130 | 15.66% |
| R1 | 0.120 | 6.76% |
| Price | 0.112 | |
| S1 | 0.110 | -2.14% |
| S2 | 0.102 | -9.25% |
| S3 | 0.0995 | -11.48% |
FAQ
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