SRM Entertainment, Inc. Stock Forecast
SRM Entertainment, Inc. stock price down 2.17% on Thursday
(Updated on May 02, 2024)
The SRM Entertainment, Inc. stock price fell by -2.17% on the last day (Thursday, 2nd May 2024) from $1.38 to $1.35. During the last trading day the stock fluctuated 8.33% from a day low at $1.32 to a day high of $1.43. The price has fallen in 6 of the last 10 days and is down by -4.26% for this period. 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 -36 thousand shares and in total, 53 thousand shares were bought and sold for approximately $71.15 thousand.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 6.72% during the next 3 months and, with a 90% probability hold a price between $1.17 and $1.93 at the end of this 3-month period.
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SRM Signals & Forecast
There are few to no technical positive signals at the moment. The SRM Entertainment, Inc. 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 $1.40 and $1.49. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 04, 2024, and so far it has fallen -23.73%. 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 SRM Entertainment, Inc. stock
SRM Entertainment, Inc. finds support from accumulated volume at $1.29 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.110 between high and low, or 8.33%. For the last week the stock has had daily average volatility of 9.85%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SRM) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect SRM Entertainment, Inc. to open at $1.37, and during the day (based on 14 day Average True Range), to move between $1.19 and $1.51, which gives a possible trading interval of +/-$0.161 (+/-11.92%) up or down from last closing price. If SRM Entertainment, Inc. takes out the full calculated possible swing range there will be an estimated 23.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.29 (4.44%) than the resistance at $1.50 (11.11%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is SRM Entertainment, Inc. stock A Buy?
The SRM Entertainment, Inc. stock holds several negative signals and despite the positive trend, we believe SRM Entertainment, Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.898 Sell Candidate Unchanged
Predicted Opening Price for SRM Entertainment, Inc. of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $1.37 ( 1.23%) | $1.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SRM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.48 | 9.38 % | |
| R2 | 1.43 | 6.27 % | ||
| R1 | 1.41 | 4.35 % | ||
| Current price: | 1.35 | |||
| Support | S1 | 1.32 | -1.88 % | |
| S2 | 1.30 | -3.80 % | ||
| S3 | 1.26 | -6.91 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.64 | 21.48 % | |
| R2 | 1.55 | 14.81 % | ||
| R1 | 1.50 | 11.11 % | ||
| Current price | 1.35 | |||
| Support | S1 | 1.29 | -4.44% | |
| S2 | 1.24 | -8.15% | ||
| S3 | 1.20 | -11.11% |
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