Spring Valley Acquisition Corp. Ii Stock Forecast
Red day on Monday for Spring Valley Acquisition Corp. Ii
(Updated on Jun 17, 2024)
The Spring Valley Acquisition Corp. Ii stock price fell by -0.0450% on the last day (Monday, 17th Jun 2024) from $11.12 to $11.12. During the last trading day the stock fluctuated 0.0900% from a day low at $11.11 to a day high of $11.12. The price has been going up and down for this period, and there has been a 0.05% gain for the last 2 weeks. Volume has increased on the last day by 1 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, 4 thousand shares were bought and sold for approximately $45.38 thousand.
The stock is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Spring Valley Acquisition Corp. Ii stock with a 90% probability to be traded between $11.26 and $11.29 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SVII Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Friday, June 14, 2024, and so far it has fallen -0.0450%. 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). Spring Valley Acquisition Corp. Ii 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. The Spring Valley Acquisition Corp. Ii 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 $11.11 and $11.07. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Spring Valley Acquisition Corp. Ii stock
Spring Valley Acquisition Corp. Ii finds support from accumulated volume at $11.11 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0100 between high and low, or 0.0900%. For the last week the stock has had daily average volatility of 0.0720%.
Our recommended stop-loss: $10.60 (-4.66%) (This stock has low daily movements and this gives low risk. The RSI14 is 84 and this increases the risk substantially. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (SVII) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Spring Valley Acquisition Corp. Ii to open at $11.12, and during the day (based on 14 day Average True Range), to move between $11.10 and $11.13, which gives a possible trading interval of +/-$0.0128 (+/-0.12%) up or down from last closing price. If Spring Valley Acquisition Corp. Ii takes out the full calculated possible swing range there will be an estimated 0.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11.12 (0.04%) than the support at $11.11 (0.04%), 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 Spring Valley Acquisition Corp. Ii stock A Buy?
Spring Valley Acquisition Corp. Ii 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.
Current score: -0.642 Hold/Accumulate Unchanged
Predicted Opening Price for Spring Valley Acquisition Corp. Ii of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $11.12 ( 0%) | $11.12 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SVII
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.13 | 0.0900% |
| R2 | 11.12 | 0.0556% |
| R1 | 11.12 | 0.0344% |
| Price | 11.12 | |
| S1 | 11.11 | -0.0344% |
| S2 | 11.11 | -0.0556% |
| S3 | 11.11 | -0.0900% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 11.12 | 0.0450% |
| Price | 11.12 | |
| S1 | 11.11 | -0.0450% |
| S2 | 11.03 | -0.765% |
| S3 | 10.98 | -1.21% |
FAQ
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