SRP Groupe S.A. Stock Forecast
Green day on Friday for SRP Groupe S.A. stock after gaining 1.77%
(Updated on Apr 19, 2024)
The SRP Groupe S.A. stock price gained 1.77% on the last trading day (Friday, 19th Apr 2024), rising from 1.13€ to 1.15€. It has now gained 7 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 4.50% from a day low at 1.11€ to a day high of 1.16€. The price has risen in 9 of the last 10 days and is up by 20.04% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 63 thousand more shares were traded than the day before. In total, 77 thousand shares were bought and sold for approximately 88.01€ thousand.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is 1.08€, a level that may pose a second chance to hit a runner. According to fan-theory 1.25€ will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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SRP.PA Signals & Forecast
The SRP Groupe S.A. 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 1.10€ and 1.00€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 02, 2024, and so far it has risen 26.37%. 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). SRP Groupe S.A. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for SRP Groupe S.A. stock
On the downside, the stock finds support just below today's level from accumulated volume at 1.06€ and 1.04€. 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, SRP Groupe S.A. finds support just below today's level at 1.06€. If this is broken, then the next support from accumulated volume will be at 1.04€ and 0.91€.
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 0.0500€ between high and low, or 4.50%. For the last week, the stock has had daily average volatility of 4.25%.
The SRP Groupe S.A. stock is extremely overbought on RSI14 (86). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken. Since the SRP Groupe S.A. has been rising for 7 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
Our recommended stop-loss: 1.11€ (-3.28%) (This stock has high daily movements and this gives high risk. The RSI14 is 86 and this increases the risk substantially. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (SRP.PA) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect SRP Groupe S.A. to open at 1.14€, and during the day (based on 14 day Average True Range), to move between 1.11€ and 1.19€, which gives a possible trading interval of +/-0.0410€ (+/-3.57%) up or down from last closing price. If SRP Groupe S.A. takes out the full calculated possible swing range there will be an estimated 7.13% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ 1.06€, some 0.0920€ (8.00%) from the current price of 1.15€, our system finds the risk reward attractive.
Is SRP Groupe S.A. stock A Buy?
SRP Groupe S.A. 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 SRP Groupe S.A. of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| 1.14€ ( 0.87%) | 1.15€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SRP.PA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.19 | 3.48 % | |
| R2 | 1.17 | 1.82 % | ||
| R1 | 1.16 | 0.791 % | ||
| Current price: | 1.15 | |||
| Support | S1 | 1.12 | -2.53 % | |
| S2 | 1.11 | -3.56 % | ||
| S3 | 1.09 | -5.22 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 1.15 | |||
| Support | S1 | 1.06 | -8.00% | |
| S2 | 1.04 | -9.57% | ||
| S3 | 0.91 | -20.87% |
FAQ
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