Sirtex Medical Limited Stock Forecast
Green day on Tuesday for Sirtex Medical Limited
(Updated on Jun 25, 2024)
The Sirtex Medical Limited stock price gained 4.00% on the last trading day (Tuesday, 25th Jun 2024), rising from A$0.125 to A$0.130. During the last trading day the stock fluctuated 8.00% from a day low at A$0.125 to a day high of A$0.135. The price has fallen in 4 of the last 10 days and is down by -3.7% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately A$374.05 thousand.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at A$0.125 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 11.12% during the next 3 months and, with a 90% probability hold a price between A$0.139 and A$0.169 at the end of this 3-month period.
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SRX.AX Signals & Forecast
There are mixed signals in the stock today. The Sirtex Medical Limited 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 A$0.130. On a fall, the stock will find some support from the short-term average at A$0.128. 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. A sell signal was issued from a pivot top point on Monday, June 17, 2024, and so far it has fallen -3.70%. 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). Sirtex Medical Limited 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. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Sirtex Medical Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at A$0.120 and A$0.115. 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, Sirtex Medical Limited finds support just below today's level at A$0.120. If this is broken, then the next support from accumulated volume will be at A$0.115 and A$0.110.
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 A$0.0100 between high and low, or 8.00%. For the last week, the stock has had daily average volatility of 7.20%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SRX.AX) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Sirtex Medical Limited to open at A$0.130, and during the day (based on 14 day Average True Range), to move between A$0.121 and A$0.139, which gives a possible trading interval of +/-A$0.0092 (+/-7.04%) up or down from last closing price. If Sirtex Medical Limited takes out the full calculated possible swing range there will be an estimated 14.08% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at A$0.135 (3.85%) than the support at A$0.120 (7.69%), 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 Sirtex Medical Limited stock A Buy?
Sirtex Medical Limited 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: -1.406 Sell Candidate Unchanged
Predicted Opening Price for Sirtex Medical Limited of Wednesday, June 26, 2024
Fair opening price June 26, 2024 | Current price |
---|---|
A$0.130 ( 0%) | A$0.130 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SRX.AX
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.140 | 7.69% |
R2 | 0.136 | 4.75% |
R1 | 0.134 | 2.94% |
Price | 0.130 | |
S1 | 0.126 | -2.94% |
S2 | 0.124 | -4.75% |
S3 | 0.120 | -7.69% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 0.140 | 7.69% |
R1 | 0.135 | 3.85% |
Price | 0.130 | |
S1 | 0.120 | -7.69% |
S2 | 0.115 | -11.54% |
S3 | 0.110 | -15.38% |
FAQ
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