Savannah Petroleum PLC Stock Forecast
Red day on Monday for Savannah Petroleum PLC stock after losing 0%
(Updated on May 04, 2020)
No changes to the price of Savannah Petroleum PLC stock on the last trading day (Monday, 4th May 2020). During the last trading day the stock fluctuated 0% from a day low at £0.0898 to a day high of £0.0898. The price has been going up and down for this period, and there has been a 0% change for the last 2 weeks.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at £0.0960 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -46.94% during the next 3 months and, with a 90% probability hold a price between £0.0075 and £0.0509 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SAVP.L Signals & Forecast
The Savannah Petroleum 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 £0.0898 and £0.0843. 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 Friday, May 01, 2020, and so far it has fallen 0%. 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". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Savannah Petroleum PLC stock
On the downside, the stock finds support just below today's level from accumulated volume at £0.0834 and £0.0800. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Savannah Petroleum PLC finds support just below today's level at £0.0834. If this is broken, then the next support from accumulated volume will be at £0.0800 and £0.0680.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved £0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SAVP.L) For The Upcoming Trading Day Of Tuesday 5th
For the upcoming trading day on Tuesday, 5th we expect Savannah Petroleum PLC to open at £0.0898, and during the day (based on 14 day Average True Range), to move between £0.0846 and £0.0950, which gives a possible trading interval of +/-£0.0052 (+/-5.83%) up or down from last closing price. If Savannah Petroleum PLC takes out the full calculated possible swing range there will be an estimated 11.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £0.0910 (1.34%) than the support at £0.0834 (7.13%), 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 Savannah Petroleum PLC stock A Buy?
Savannah Petroleum PLC holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.310 Sell Candidate Unchanged
Predicted Opening Price for Savannah Petroleum PLC of Tuesday, May 5, 2020
| Fair opening price May 5, 2020 | Current price |
|---|---|
| £0.0898 ( 0%) | £0.0898 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SAVP.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0898 | . | |
| R2 | 0.0898 | . | ||
| R1 | 0.0898 | . | ||
| Current price: | 0.0898 | |||
| Support | S1 | 0.0898 | . | |
| S2 | 0.0898 | . | ||
| S3 | 0.0898 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.100 | 11.36 % | |
| R2 | 0.0980 | 9.13 % | ||
| R1 | 0.0910 | 1.34 % | ||
| Current price | 0.0898 | |||
| Support | S1 | 0.0834 | -7.13% | |
| S2 | 0.0800 | -10.91% | ||
| S3 | 0.0680 | -24.28% |
FAQ
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