Seventy Seven Energy Inc Stock Forecast
Seventy Seven Energy Inc stock price down 0.246% on Wednesday
(Updated on Apr 17, 2024)
The Seventy Seven Energy Inc stock price fell by -0.246% on the last day (Wednesday, 17th Apr 2024) from £1,623.50 to £1,619.50. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 2.28% from a day low at £1,598.00 to a day high of £1,634.50. The price has fallen in 6 of the last 10 days but is still up by 0.37% over the past 2 weeks. 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 -552 thousand shares and in total, 4 million shares were bought and sold for approximately £6.71 billion.
The stock lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at £1,635.26 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -4.46% during the next 3 months and, with a 90% probability hold a price between £1,426.27 and £1,562.35 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SSE.L Signals & Forecast
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 Seventy Seven Energy Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at £1,623.21 and £1,621.06. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 07, 2024, and so far it has fallen -2.94%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Seventy Seven Energy Inc stock
Seventy Seven Energy Inc finds support from accumulated volume at £1,619.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved £36.50 between high and low, or 2.28%. For the last week the stock has had daily average volatility of 2.60%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SSE.L) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Seventy Seven Energy Inc to open at £1,617.33, and during the day (based on 14 day Average True Range), to move between £1,584.48 and £1,654.52, which gives a possible trading interval of +/-£35.02 (+/-2.16%) up or down from last closing price. If Seventy Seven Energy Inc takes out the full calculated possible swing range there will be an estimated 4.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £1,619.00 (0.03%) than the resistance at £1,625.50 (0.37%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Seventy Seven Energy Inc stock A Buy?
Seventy Seven Energy Inc holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.337 Sell Candidate Unchanged
Predicted Opening Price for Seventy Seven Energy Inc of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| £1,617.33 ( 0.134%) | £1,619.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SSE.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,653.83 | 2.12 % | |
| R2 | 1,639.89 | 1.26 % | ||
| R1 | 1,631.28 | 0.727 % | ||
| Current price: | 1,619.50 | |||
| Support | S1 | 1,603.39 | -0.99 % | |
| S2 | 1,594.78 | -1.53 % | ||
| S3 | 1,580.83 | -2.39 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,757.00 | 8.49 % | |
| R2 | 1,739.50 | 7.41 % | ||
| R1 | 1,625.50 | 0.370 % | ||
| Current price | 1,619.50 | |||
| Support | S1 | 1,619.00 | -0.0309% | |
| S2 | 1,609.50 | -0.617% | ||
| S3 | 1,564.00 | -3.43% |
SSE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 11, 2024 | Jan 11, 2024 | Jan 11, 2024 | £0 | 0% |
| 2 | Jul 27, 2023 | Jul 27, 2023 | Jul 27, 2023 | £67.70 | 3.98% |
| 3 | Nov 16, 2022 | Jan 12, 2023 | Mar 09, 2023 | £29.00 | 1.68% |
| 4 | May 25, 2022 | Jul 28, 2022 | Sep 22, 2022 | £60.20 | 3.50% |
| 5 | Nov 17, 2021 | Jan 13, 2022 | Mar 10, 2022 | £25.50 | 1.53% |
FAQ
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