Shoprite Holdings Ltd. Stock Forecast
Shoprite Holdings Ltd. stock price ended at $16.24 on Friday, after losing 0%.
(Updated on Jun 28, 2024)
No changes to the price of Shoprite Holdings Ltd. stock on the last trading day (Friday, 28th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $16.24 to a day high of $16.24. The price has risen in 5 of the last 10 days and is up by 18.75% over the past 2 weeks.
The stock lies in the upper part of a wide and strong rising 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 $16.31 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 21.85% during the next 3 months and, with a 90% probability hold a price between $17.24 and $19.88 at the end of this 3-month period.
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SRGHY Signals & Forecast
The Shoprite Holdings Ltd. 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 $16.21 and $14.50. 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 Thursday, June 27, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Shoprite Holdings Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at $14.39 and $14.32. 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, Shoprite Holdings Ltd. finds support just below today's level at $14.39. If this is broken, then the next support from accumulated volume will be at $14.32 and $13.24.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock 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 0%
Our recommended stop-loss: $15.59 (-4.00%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (SRGHY) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Shoprite Holdings Ltd. to open at $16.24, and during the day (based on 14 day Average True Range), to move between $16.04 and $16.44, which gives a possible trading interval of +/-$0.205 (+/-1.26%) up or down from last closing price. If Shoprite Holdings Ltd. takes out the full calculated possible swing range there will be an estimated 2.52% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $14.39, some $1.85 (11.39%) from the current price of $16.24, our system finds the risk reward attractive.
Is Shoprite Holdings Ltd. stock A Buy?
Shoprite Holdings Ltd. 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 Shoprite Holdings Ltd. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $16.24 ( 0%) | $16.24 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SRGHY
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 16.24 | - |
| R2 | 16.24 | - |
| R1 | 16.24 | - |
| Price | 16.24 | |
| S1 | 16.24 | - |
| S2 | 16.24 | - |
| S3 | 16.24 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 16.24 | |
| S1 | 14.39 | -11.39% |
| S2 | 14.32 | -11.82% |
| S3 | 13.24 | -18.50% |
SRGHY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 27, 2024 | Mar 27, 2024 | Apr 12, 2024 | $0.0995 | 0.767% |
| 2 | Sep 16, 2023 | Sep 28, 2023 | Oct 12, 2023 | $0.219 | 1.73% |
| 3 | Jun 28, 2023 | Apr 05, 2023 | Apr 21, 2023 | $0.134 | 1.05% |
| 4 | Sep 29, 2022 | Sep 29, 2022 | Apr 21, 2023 | $0.210 | 1.64% |
| 5 | Apr 07, 2022 | Apr 07, 2022 | Apr 07, 2022 | $0.155 | 0.95% |
FAQ
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