SILVERSUN TECH Stock Forecast
SILVERSUN TECH stock upgraded to Buy Candidate.
(Updated on May 01, 2024)
The SILVERSUN TECH stock price fell by -0.699% on the last day (Wednesday, 1st May 2024) from $14.31 to $14.21. During the last trading day the stock fluctuated 5.26% from a day low at $13.68 to a day high of $14.40. The price has been going up and down for this period, and there has been a -8.85% loss for the last 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 -43 thousand shares and in total, 14 thousand shares were bought and sold for approximately $194.90 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -8.13% during the next 3 months and, with a 90% probability hold a price between $11.15 and $15.44 at the end of this 3-month period.
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SSNT Signals & Forecast
The SILVERSUN TECH 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 $13.92 and $13.49. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, April 17, 2024, and so far it has fallen -8.85%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for SILVERSUN TECH stock
SILVERSUN TECH finds support from accumulated volume at $13.90 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 $0.720 between high and low, or 5.26%. For the last week the stock has had daily average volatility of 6.27%.
Our recommended stop-loss: $13.41 (-5.65%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (SSNT) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect SILVERSUN TECH to open at $14.10, and during the day (based on 14 day Average True Range), to move between $13.18 and $15.24, which gives a possible trading interval of +/-$1.03 (+/-7.22%) up or down from last closing price. If SILVERSUN TECH takes out the full calculated possible swing range there will be an estimated 14.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $13.90 (2.18%) than the resistance at $14.94 (5.14%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
SILVERSUN TECH will release earnings BMO on Tuesday, May 07, 2024. We will update the financials statements for SILVERSUN TECH, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.97% in the first trading day after earnings release.
Is SILVERSUN TECH stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.752 Buy Candidate Upgraded
Predicted Opening Price for SILVERSUN TECH of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $14.10 ( 0.797%) | $14.21 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SSNT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.82 | 4.27 % | |
| R2 | 14.54 | 2.33 % | ||
| R1 | 14.37 | 1.14 % | ||
| Current price: | 14.21 | |||
| Support | S1 | 13.82 | -2.73 % | |
| S2 | 13.65 | -3.93 % | ||
| S3 | 13.38 | -5.86 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.89 | 11.82 % | |
| R2 | 14.99 | 5.49 % | ||
| R1 | 14.94 | 5.14 % | ||
| Current price | 14.21 | |||
| Support | S1 | 13.90 | -2.18% | |
| S2 | 13.71 | -3.52% | ||
| S3 | 13.56 | -4.57% |
SSNT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 07, 2023 | Aug 17, 2023 | Aug 25, 2023 | $0.200 | 5.46% |
| 2 | Jun 22, 2021 | Jul 08, 2021 | Jul 16, 2021 | $0.600 | 5.83% |
| 3 | Dec 11, 2020 | Dec 18, 2020 | Dec 28, 2020 | $0.400 | 13.42% |
| 4 | Dec 24, 2019 | Jan 06, 2020 | Jan 14, 2020 | $0.500 | 15.24% |
| 5 | Dec 26, 2018 | Jan 04, 2019 | Jan 14, 2019 | $0.0500 | 2.27% |
FAQ
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