Skyharbour Resources Ltd. Stock Forecast
Skyharbour Resources Ltd. stock price down 2.48% on Friday
(Updated on May 03, 2024)
The Skyharbour Resources Ltd. stock price fell by -2.48% on the last day (Friday, 3rd May 2024) from $0.322 to $0.314. During the last trading day the stock fluctuated 5.60% from a day low at $0.310 to a day high of $0.327. The price has fallen in 6 of the last 10 days and is down by -4.68% for this period. 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 -5 thousand shares and in total, 16 thousand shares were bought and sold for approximately $5.16 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 -8.76% during the next 3 months and, with a 90% probability hold a price between $0.262 and $0.354 at the end of this 3-month period.
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SYHBF Signals & Forecast
There are few to no technical positive signals at the moment. The Skyharbour Resources Ltd. 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 $0.322 and $0.342. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -21.48%. 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 Skyharbour Resources Ltd. stock
Skyharbour Resources Ltd. finds support from accumulated volume at $0.310 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 much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0174 between high and low, or 5.60%. For the last week the stock has had daily average volatility of 4.36%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SYHBF) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Skyharbour Resources Ltd. to open at $0.317, and during the day (based on 14 day Average True Range), to move between $0.294 and $0.334, which gives a possible trading interval of +/-$0.0204 (+/-6.49%) up or down from last closing price. If Skyharbour Resources Ltd. takes out the full calculated possible swing range there will be an estimated 12.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.310 (1.27%) than the resistance at $0.329 (4.81%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Skyharbour Resources Ltd. stock A Buy?
Skyharbour Resources Ltd. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.343 Sell Candidate Unchanged
Predicted Opening Price for Skyharbour Resources Ltd. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.317 ( 0.99%) | $0.314 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SYHBF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.334 | 6.53 % | |
| R2 | 0.328 | 4.41 % | ||
| R1 | 0.324 | 3.11 % | ||
| Current price: | 0.314 | |||
| Support | S1 | 0.310 | -1.12 % | |
| S2 | 0.306 | -2.42 % | ||
| S3 | 0.300 | -4.54 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.332 | 5.76 % | |
| R2 | 0.332 | 5.61 % | ||
| R1 | 0.329 | 4.81 % | ||
| Current price | 0.314 | |||
| Support | S1 | 0.310 | -1.27% | |
| S2 | 0.308 | -1.77% | ||
| S3 | 0.306 | -2.55% |
FAQ
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