Salem Media Group Stock Forecast
High volatility in Salem Media Group stock price on Friday which ended trading at $0.381
(Updated on Apr 26, 2024)
The Salem Media Group stock price gained 20.91% on the last trading day (Friday, 26th Apr 2024), rising from $0.315 to $0.381. During the last trading day the stock fluctuated 12.06% from a day low at $0.340 to a day high of $0.381. The price has fallen in 6 of the last 10 days and is down by -4.27% for this period. Volume fell on the last day by -13 thousand shares and in total, 19 thousand shares were bought and sold for approximately $7.10 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.72% during the next 3 months and, with a 90% probability hold a price between $0.327 and $0.444 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
SALM Signals & Forecast
The Salem Media Group stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.364 and $0.372. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 20.91%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Salem Media Group stock
Salem Media Group finds support from accumulated volume at $0.380 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 $0.0410 between high and low, or 12.06%. For the last week the stock has had daily average volatility of 14.76%.
Our recommended stop-loss: $0.367 (-3.56%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (SALM) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Salem Media Group to open at $0.367, and during the day (based on 14 day Average True Range), to move between $0.338 and $0.424, which gives a possible trading interval of +/-$0.0427 (+/-11.21%) up or down from last closing price. If Salem Media Group takes out the full calculated possible swing range there will be an estimated 22.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.380 (0.26%) than the resistance at $0.390 (2.28%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Salem Media Group stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Salem Media Group stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.450 Buy Candidate Upgraded
Predicted Opening Price for Salem Media Group of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $0.367 ( 3.59%) | $0.381 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SALM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.408 | 7.17 % | |
| R2 | 0.393 | 3.06 % | ||
| R1 | 0.383 | 0.524 % | ||
| Current price: | 0.381 | |||
| Support | S1 | 0.352 | -7.70 % | |
| S2 | 0.342 | -10.24 % | ||
| S3 | 0.326 | -14.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.399 | 4.72 % | |
| R2 | 0.390 | 2.36 % | ||
| R1 | 0.390 | 2.28 % | ||
| Current price | 0.381 | |||
| Support | S1 | 0.380 | -0.262% | |
| S2 | 0.334 | -12.34% | ||
| S3 | 0.330 | -13.39% |
SALM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 10, 2020 | Mar 23, 2020 | Mar 31, 2020 | $0.0250 | 2.91% |
| 2 | Dec 10, 2019 | Dec 20, 2019 | Dec 30, 2019 | $0.0250 | 1.72% |
| 3 | Sep 12, 2019 | Sep 20, 2019 | Sep 30, 2019 | $0.0650 | 4.25% |
| 4 | May 14, 2019 | Jun 13, 2019 | Jun 28, 2019 | $0.0650 | 2.67% |
| 5 | Mar 07, 2019 | Mar 18, 2019 | Mar 29, 2019 | $0.0650 | 2.54% |
FAQ
Click here for our free guide on how to buy Salem Media Group Stock.
