Sharps Technology, Inc. Stock Forecast
High volatility in Sharps Technology, Inc. stock price on Thursday which ended trading at $0.0726
(Updated on Jun 27, 2024)
The Sharps Technology, Inc. stock price fell by -13.88% on the last day (Thursday, 27th Jun 2024) from $0.0843 to $0.0726. During the last trading day the stock fluctuated 10.33% from a day low at $0.0726 to a day high of $0.0801. The price has fallen in 6 of the last 10 days and is down by -10.37% for this period. Volume has increased on the last day by 4 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, 10 thousand shares were bought and sold for approximately $758.96 .
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0641 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 25.54% during the next 3 months and, with a 90% probability hold a price between $0.0805 and $0.170 at the end of this 3-month period.
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STSSW Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 17.86%. Further rise is indicated until a new top pivot has been found. 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 Sharps Technology, Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.0787 and $0.0792. A break-up above any of these levels will issue buy signals. Sharps Technology, Inc. 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 Sharps Technology, Inc. stock
Sharps Technology, Inc. finds support from accumulated volume at $0.0705 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 $0.0075 between high and low, or 10.33%. For the last week, the stock has had daily average volatility of 17.35%.
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 Friday 28th
For the upcoming trading day on Friday, 28th we expect Sharps Technology, Inc. to open at $0.0751, and during the day (based on 14 day Average True Range), to move between $0.0445 and $0.101, which gives a possible trading interval of +/-$0.0281 (+/-38.64%) up or down from last closing price. If Sharps Technology, Inc. takes out the full calculated possible swing range there will be an estimated 77.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0746 (2.75%) than the support at $0.0705 (2.89%), 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 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 Buy to a Sell candidate.
Current score: -2.528 Sell Candidate Downgraded
Predicted Opening Price for Sharps Technology, Inc. of Friday, June 28, 2024
Fair opening price June 28, 2024 | Current price |
---|---|
$0.0751 ( 3.44%) | $0.0726 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for STSSW
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0826 | 13.77% |
R2 | 0.0797 | 9.83% |
R1 | 0.0780 | 7.39% |
Price | 0.0726 | |
S1 | 0.0722 | -0.503% |
S2 | 0.0705 | -2.94% |
S3 | 0.0676 | -6.89% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0831 | 14.46% |
R2 | 0.0800 | 10.19% |
R1 | 0.0746 | 2.75% |
Price | 0.0726 | |
S1 | 0.0705 | -2.89% |
S2 | 0.0601 | -17.22% |
S3 | 0.0550 | -24.24% |
FAQ
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