Seraphim Space Investment Trust Plc Stock Forecast
Weaker technical forecast for Seraphim Space Investment Trust Plc as stock downgraded to Hold/Accumulate.
(Updated on Apr 15, 2024)
The Seraphim Space Investment Trust Plc stock price fell by -2.83% on the last day (Monday, 15th Apr 2024) from £60.00 to £58.30. During the last trading day the stock fluctuated 3.89% from a day low at £57.75 to a day high of £60.00. The price has fallen in 5 of the last 10 days but is still up by 13.42% over the past 2 weeks. Volume has increased on the last day by 112 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 325 thousand shares were bought and sold for approximately £18.93 million.
The stock lies in the middle of a very 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 8.58% during the next 3 months and, with a 90% probability hold a price between £50.70 and £69.76 at the end of this 3-month period.
SSIT.L Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Friday, April 12, 2024, and so far it has fallen -2.83%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The Seraphim Space Investment Trust Plc 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 £54.53 and £53.73. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Seraphim Space Investment Trust Plc stock
Seraphim Space Investment Trust Plc finds support from accumulated volume at £56.40 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 £2.25 between high and low, or 3.89%. For the last week, the stock has had daily average volatility of 7.64%.
Our recommended stop-loss: £55.97 (-4.00%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (SSIT.L) For The Upcoming Trading Day Of Tuesday 16th
For the upcoming trading day on Tuesday, 16th we expect Seraphim Space Investment Trust Plc to open at £58.68, and during the day (based on 14 day Average True Range), to move between £55.16 and £61.44, which gives a possible trading interval of +/-£3.14 (+/-5.39%) up or down from last closing price. If Seraphim Space Investment Trust Plc takes out the full calculated possible swing range there will be an estimated 10.78% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £59.70 (2.40%) than the support at £56.40 (3.26%), 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 Seraphim Space Investment Trust Plc stock A Buy?
Seraphim Space Investment Trust Plc 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: -0.044 Hold/Accumulate Downgraded
Predicted Opening Price for Seraphim Space Investment Trust Plc of Tuesday, April 16, 2024
| Fair opening price April 16, 2024 | Current price |
|---|---|
| £58.68 ( 0.659%) | £58.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SSIT.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 60.93 | 4.51 % | |
| R2 | 60.07 | 3.04 % | ||
| R1 | 59.54 | 2.13 % | ||
| Current price: | 58.30 | |||
| Support | S1 | 57.83 | -0.81 % | |
| S2 | 57.29 | -1.72 % | ||
| S3 | 56.44 | -3.20 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 62.40 | 7.03 % | |
| R2 | 62.00 | 6.35 % | ||
| R1 | 59.70 | 2.40 % | ||
| Current price | 58.30 | |||
| Support | S1 | 56.40 | -3.26% | |
| S2 | 52.00 | -10.81% | ||
| S3 | 50.00 | -14.24% |
FAQ
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