Star8 Corp. Stock Forecast
Volatile ride for Star8 Corp. stock price on Wednesday moving between $0.0100 and $0.0168
(Updated on May 22, 2024)
The Star8 Corp. stock price fell by -0.606% on the last day (Wednesday, 22nd May 2024) from $0.0165 to $0.0164. During the last trading day the stock fluctuated 68.00% from a day low at $0.0100 to a day high of $0.0168. The price has risen in 5 of the last 10 days and is up by 64% over the past 2 weeks. Volume has increased on the last day by 131 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, 167 thousand shares were bought and sold for approximately $2.74 thousand.
The stock lies in the upper part of a very wide and strong rising 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 $0.0180 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 177.78% during the next 3 months and, with a 90% probability hold a price between $0.0205 and $0.0501 at the end of this 3-month period.
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STRH Signals & Forecast
The Star8 Corp. 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 $0.0144 and $0.0073. 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 Friday, May 17, 2024, and so far it has fallen -6.18%. Further fall is indicated until a new bottom pivot has been found. Star8 Corp. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Star8 Corp. stock
Star8 Corp. finds support from accumulated volume at $0.0160 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0068 between high and low, or 68.00%. For the last week, the stock has had daily average volatility of 33.39%.
Our recommended stop-loss: $0.0158 (-3.75%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 11 days ago.)
Trading Expectations (STRH) For The Upcoming Trading Day Of Thursday 23rd
For the upcoming trading day on Thursday, 23rd we expect Star8 Corp. to open at $0.0144, and during the day (based on 14 day Average True Range), to move between $0.0140 and $0.0188, which gives a possible trading interval of +/-$0.0024 (+/-14.70%) up or down from last closing price. If Star8 Corp. takes out the full calculated possible swing range there will be an estimated 29.40% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0165 (0.61%) than the support at $0.0160 (2.44%), 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 Star8 Corp. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Star8 Corp. stock to perform well in the short-term.
Current score: 3.392 Buy Candidate Unchanged
Predicted Opening Price for Star8 Corp. of Thursday, May 23, 2024
| Fair opening price May 23, 2024 | Current price |
|---|---|
| $0.0144 ( 12.20%) | $0.0164 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for STRH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0212 | 29.27 % | |
| R2 | 0.0186 | 13.43 % | ||
| R1 | 0.0170 | 3.64 % | ||
| Current price: | 0.0164 | |||
| Support | S1 | 0.0118 | -28.03 % | |
| S2 | 0.0102 | -37.82 % | ||
| S3 | 0.0076 | -53.66 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0.0175 | 6.59 % | ||
| R1 | 0.0165 | 0.610 % | ||
| Current price | 0.0164 | |||
| Support | S1 | 0.0160 | -2.44% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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