Sharps Technology, Inc. Stock Forecast

Big movements in Sharps Technology, Inc. stock price on Friday moving 45.45% between high and low
(Updated on Jun 21, 2024)

STSSW Signals & Forecast

There are few to no technical positive signals at the moment. The Sharps Technology, 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 $0.0939 and $0.0779. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 13, 2024, and so far it has fallen -52.62%. 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 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. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Sharps Technology, Inc. stock

Sharps Technology, Inc. finds support from accumulated volume at $0.0601 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 periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0280 between high and low, or 45.45%. For the last week the stock has had daily average volatility of 28.49%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (STSSW) For The Upcoming Trading Day Of Monday 24th

For the upcoming trading day on Monday, 24th we expect Sharps Technology, Inc. to open at $0.0709, and during the day (based on 14 day Average True Range), to move between $0.0280 and $0.0952, which gives a possible trading interval of +/-$0.0336 (+/-54.48%) up or down from last closing price. If Sharps Technology, Inc. takes out the full calculated possible swing range there will be an estimated 108.96% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0601 (2.44%) than the resistance at $0.0642 (4.22%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Sharps Technology, Inc. stock A Buy?

The Sharps Technology, Inc. stock holds several negative signals and despite the positive trend, we believe Sharps Technology, Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Sell candidate.

Current score: -7.281 Strong Sell Candidate Downgraded

Predicted Opening Price for Sharps Technology, Inc. of Monday, June 24, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.