SMTC Corporation Forecast and Stock Analysis
Technical SMTX stock analysis for March 22, 2019.
SMTC Corporation fell by -5.75% in the last day from $4.00 to $3.77 The price has fallen in 6 of the last 10 days and is down by -20.13% for this period. Volume has increased in the last day by 250 274 shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 367 787 shares bought and sold for approximately $1.39 million.
Close price at the end of the last trading day (Friday, 22nd Mar 2019) of the SMTX stock was $3.77. This is 5.75% less than the trading day before Thursday, 21st Mar 2019.
During day the stock fluctuated 8.99% from a day low at $3.67 to a day high of $4.00.
30 day high of the SMTX stock price was $5.74 and low was $3.67.
90 day high was $5.98 and low was $3.55.
52 week high for the SMTC Corporation - $5.98 and low - $2.14.
SMTC Corporation has broken the very wide and horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately $4.25 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
There are few to none technical positive signals at the moment. SMTC Corporation 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 $4.35 and $4.67. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Thursday March 14, 2019, which indicates further falls until a new bottom pivot has been found. SMTC Corporation gained volume on the last day, but on falling prices. In technical terms this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-off's".
Relative Strength Index (RSI)
RSI14 is 36 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $3.57.
With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0.00 may give a huge drop in the stock price.
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 $0.33 between high and low, or 8.99%. For the last week, the stock has had a daily average volatility of 9.44%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Evaluation: Sell Candidate
SMTC Corporation holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.