Savannah Resources Plc Forecast and Stock Analysis
Technical SAV.L stock analysis for Wednesday May 22, 2019.
Savannah Resources Plc fell by -1.85% in the last day ( Wednesday, 22nd May 2019 ) from £5.40 to £5.30 During day the stock fluctuated 0.00% from a day low at £5.30 to a day high of £5.30. The price has been going up and down for this period, and there has been a -1.85% loss for the last 2 weeks. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -398 663 shares and in total 425 661 shares bought and sold for approximately £2.26 million.
- 30 day high of the SAV.L stock price was £6.10 and low was £5.28.
- 90 day high was £6.10 and low was £5.00.
- 52 week high for the Savannah Resources Plc - £15.25 and low - £4.68.
Savannah Resources Plc lies in the lower part of a wide and weak rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at £5.20 will firstly indicate a slower raising rate, but may also be a early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 4.64% during the next 3 months and, with 90% probability hold a price between £5.44 and £6.48 at the end of this period.
There are few to none technical positive signals at the moment. Savannah Resources Plc holds sales signals from both short- and long-term moving averages. In addition, there is a general sales 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 £5.44 and £5.53. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Thursday May 16, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Relative Strength Index (RSI)
RSI14 is 37 and the stock is currently not being overbought or oversold
Support & Resistance
Savannah Resources Plc finds support from accumulated volume at £5.26.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved £0.00 (0.00%) between high and low. For the last week, the stock has had a daily average volatility of 1.11%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
1.11 %Average volatility
Very Low Low Medium High Very High
The Savannah Resources Plc stock holds several negative signals and despite the positive trend we believe Savannah Resources Plc will perform weak 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 recommendation for this stock since last evaluation from a Hold/Accumulate to a Sell Candidate.
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