Sirtex Medical Limited Stock Forecast
Evaluation of Sirtex Medical Limited stock downgraded after the last trading session.
(Updated on Jun 28, 2024)
No changes to the price of Sirtex Medical Limited stock on the last trading day (Friday, 28th Jun 2024). During the last trading day the stock fluctuated 3.85% from a day low at A$0.130 to a day high of A$0.135. The price has risen in 4 of the last 10 days and is up by 1.54% over the past 2 weeks.
The stock lies in the middle of a 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 9.47% during the next 3 months and, with a 90% probability hold a price between A$0.136 and A$0.165 at the end of this 3-month period.
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SRX.AX Signals & Forecast
The Sirtex Medical Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at A$0.129 and A$0.131. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, June 17, 2024, and so far it has fallen -2.22%. 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 on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point".
Support, Risk & Stop-loss for Sirtex Medical Limited stock
Sirtex Medical Limited finds support from accumulated volume at A$0.130 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 A$0.0050 between high and low, or 3.85%. For the last week the stock has had daily average volatility of 5.48%.
Our recommended stop-loss: A$0.125 (-5.27%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 50 days ago.)
Trading Expectations (SRX.AX) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Sirtex Medical Limited to open at A$0.132, and during the day (based on 14 day Average True Range), to move between A$0.123 and A$0.141, which gives a possible trading interval of +/-A$0.0087 (+/-6.57%) up or down from last closing price. If Sirtex Medical Limited takes out the full calculated possible swing range there will be an estimated 13.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at A$0.130 (1.52%) than the resistance at A$0.135 (2.27%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sirtex Medical Limited stock A Buy?
Sirtex Medical Limited 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.042 Hold/Accumulate Downgraded
Predicted Opening Price for Sirtex Medical Limited of Monday, July 1, 2024
Fair opening price July 1, 2024 | Current price |
---|---|
A$0.132 ( 0.253%) | A$0.132 |
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 | 0.137 | 4.04% |
R2 | 0.135 | 2.59% |
R1 | 0.134 | 1.70% |
Price | 0.132 | |
S1 | 0.130 | -1.19% |
S2 | 0.129 | -2.09% |
S3 | 0.127 | -3.54% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 0.140 | 6.06% |
R1 | 0.135 | 2.27% |
Price | 0.132 | |
S1 | 0.130 | -1.52% |
S2 | 0.120 | -9.09% |
S3 | 0.115 | -12.88% |
FAQ
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