SRM Entertainment, Inc. Stock Forecast
SRM Entertainment, Inc. stock price up more than 5.76% on Friday
(Updated on May 17, 2024)
The SRM Entertainment, Inc. stock price gained 5.76% on the last trading day (Friday, 17th May 2024), rising from $1.39 to $1.47. During the last trading day the stock fluctuated 9.48% from a day low at $1.37 to a day high of $1.50. The price has fallen in 6 of the last 10 days but is still up by 3.52% over the past 2 weeks. Volume fell on the last day by -45 thousand shares and in total, 61 thousand shares were bought and sold for approximately $89.35 thousand. 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 middle of a very wide and strong 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 15.07% during the next 3 months and, with a 90% probability hold a price between $1.41 and $2.18 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
SRM Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, May 13, 2024, and so far it has risen 19.51%. Further rise is indicated until a new top pivot has been found. 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. The SRM Entertainment, Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $1.48. On a fall, the stock will find some support from the short-term average at $1.34. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for SRM Entertainment, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.29 and $1.24. 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, SRM Entertainment, Inc. finds support just below today's level at $1.29. If this is broken, then the next support from accumulated volume will be at $1.24 and $1.20.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.130 between high and low, or 9.48%. For the last week the stock has had daily average volatility of 7.80%.
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 Monday 20th
For the upcoming trading day on Monday, 20th we expect SRM Entertainment, Inc. to open at $1.45, and during the day (based on 14 day Average True Range), to move between $1.34 and $1.60, which gives a possible trading interval of +/-$0.128 (+/-8.73%) up or down from last closing price. If SRM Entertainment, Inc. takes out the full calculated possible swing range there will be an estimated 17.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.51 (2.72%) than the support at $1.29 (12.24%), 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 SRM Entertainment, Inc. stock A Buy?
SRM Entertainment, Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.065 Sell Candidate Unchanged
Predicted Opening Price for SRM Entertainment, Inc. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $1.45 ( 1.59%) | $1.47 |
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 | 1.58 | 7.25 % | |
| R2 | 1.53 | 3.87 % | ||
| R1 | 1.50 | 1.79 % | ||
| Current price: | 1.47 | |||
| Support | S1 | 1.40 | -4.97 % | |
| S2 | 1.37 | -7.05 % | ||
| S3 | 1.32 | -10.43 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.64 | 11.56 % | |
| R2 | 1.55 | 5.44 % | ||
| R1 | 1.51 | 2.72 % | ||
| Current price | 1.47 | |||
| Support | S1 | 1.29 | -12.24% | |
| S2 | 1.24 | -15.65% | ||
| S3 | 1.20 | -18.37% |
FAQ
Click here for our free guide on how to buy SRM Entertainment, Inc. Stock.
