Silicon Graphics International Corp Forecast and Stock Analysis
Technical SGI.L stock analysis for March 22, 2019.
Silicon Graphics International Corp gained 5.26% in the last trading day, rising from £2.38 to £2.50 The price has been going up and down for this period, and there has been a -9.09% loss for the last 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 3.57 million more shares were traded than the day before. In total, 3.67 million shares bought and sold for approximately £9.16 million.
Close price at the end of the last trading day (Friday, 22nd Mar 2019) of the SGI.L stock was £2.50. This is 5.26% more than the trading day before Thursday, 21st Mar 2019.
During day the stock fluctuated 11.11% from a day low at £2.25 to a day high of £2.50.
30 day high of the SGI.L stock price was £2.88 and low was £2.25.
90 day high was £4.00 and low was £2.25.
52 week high for the Silicon Graphics International Corp - £4.75 and low - £2.25.
Silicon Graphics International Corp lies the upper part of a very wide and falling trend in the short term, and this will 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 £2.65 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 -38.28% during the next 3 months and, with 90% probability hold a price between £1.12 and £1.63 at the end of this period.
A buy signal was issued from a pivot bottom point on Thursday March 14, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Silicon Graphics International Corp holds a buysignal from the short-term moving average; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general sales signal in the stock. On further gains, the stock will meet resistance from the long-term moving average at £2.75. On a fall, the stock will find some support from the short-term average at £2.39. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal.
Relative Strength Index (RSI)
The stock currently holds a RSI14 at 25 and is oversold on RSI14. The stock being oversold is no guarantee for instant reaction up as some stocks may be oversold for a long time. It is important to review the previous RSI-history to get an indication of the RSI-sensitiveness.
Support & Resistance
Silicon Graphics International Corp finds support from accumulated volume at £2.38.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved £0.25 between high and low, or 11.11%. For the last week, the stock has had a daily average volatility of 5.56%.
Silicon Graphics International Corp is oversold on RSI14 (25). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Evaluation: Sell Candidate
Silicon Graphics International Corp 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.