Symphony Environmental Technologies Plc Stock Forecast

Red day on Wednesday for Symphony Environmental Technologies Plc stock after losing 0%
(Updated on May 01, 2024)

SYM.L Signals & Forecast

The Symphony Environmental Technologies Plc 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 £3.24 and £3.08. A breakdown below any of these levels will issue sell signals. 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 Tuesday, April 02, 2024, and so far it has fallen -7.14%. 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 on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point".

Support, Risk & Stop-loss for Symphony Environmental Technologies Plc stock

Symphony Environmental Technologies Plc finds support from accumulated volume at £3.18 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved £0.0650 between high and low, or 2.02%. For the last week the stock has had daily average volatility of 5.61%.

Our recommended stop-loss: £3.12 (-4.14%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 21 days ago.)

Trading Expectations (SYM.L) For The Upcoming Trading Day Of Thursday 2nd

For the upcoming trading day on Thursday, 2nd we expect Symphony Environmental Technologies Plc to open at £3.25, and during the day (based on 14 day Average True Range), to move between £3.02 and £3.48, which gives a possible trading interval of +/-£0.232 (+/-7.14%) up or down from last closing price. If Symphony Environmental Technologies Plc takes out the full calculated possible swing range there will be an estimated 14.27% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at £3.18 (2.31%) than the resistance at £3.36 (3.38%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Symphony Environmental Technologies Plc stock A Buy?

Symphony Environmental Technologies Plc 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: -0.305 Hold/Accumulate Unchanged

Predicted Opening Price for Symphony Environmental Technologies Plc of Thursday, May 2, 2024

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