Sipa Resources Limited Stock Forecast
A very red day for Sipa Resources Limited stock price after a -7.14% fall in the Monday trading session
(Updated on Jun 24, 2024)
The Sipa Resources Limited stock price fell by -7.14% on the last day (Monday, 24th Jun 2024) from $0.0140 to $0.0130. During the last trading day the stock fluctuated 7.69% from a day low at $0.0130 to a day high of $0.0140. The price has been going up and down for this period, and there has been a -13.33% loss for the last 2 weeks. Volume has increased on the last day by 33 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, 224 thousand shares were bought and sold for approximately $2.91 thousand.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0126 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -20.63% during the next 3 months and, with a 90% probability hold a price between $0.0100 and $0.0133 at the end of this 3-month period.
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SRI.AX Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Sipa Resources Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.0143 and $0.0158. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Sipa Resources Limited 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 Sipa Resources Limited stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.0010 between high and low, or 7.69%. For the last week, the stock has had daily average volatility of 10.77%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SRI.AX) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect Sipa Resources Limited to open at $0.0133, and during the day (based on 14 day Average True Range), to move between $0.0121 and $0.0139, which gives a possible trading interval of +/-$0.0009 (+/-6.60%) up or down from last closing price. If Sipa Resources Limited takes out the full calculated possible swing range there will be an estimated 13.21% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.0140, some $0.0010 (7.69%) from the current price of $0.0130, our system finds the risk reward not very attractive.
Is Sipa Resources Limited stock A Buy?
Sipa Resources Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.888 Strong Sell Candidate Downgraded
Predicted Opening Price for Sipa Resources Limited of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| $0.0133 ( 2.56%) | $0.0130 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SRI.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0143 | 10.26% |
| R2 | 0.0140 | 7.32% |
| R1 | 0.0137 | 5.50% |
| Price | 0.0130 | |
| S1 | 0.0130 | -0.374% |
| S2 | 0.0127 | -2.19% |
| S3 | 0.0123 | -5.13% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0160 | 23.08% |
| R2 | 0.0150 | 15.38% |
| R1 | 0.0140 | 7.69% |
| Price | 0.0130 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
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