Synairgen Stock Forecast

Big movements in Synairgen stock price on Thursday moving 10.48% between high and low
(Updated on Apr 25, 2024)

SNG.L Signals & Forecast

The Synairgen stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately £6.62. On a fall, the stock will find some support from the long-term average at approximately £5.76. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 2.28%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.

Support, Risk & Stop-loss for Synairgen stock

On the downside, the stock finds support just below today's level from accumulated volume at £5.76 and £5.50. 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, Synairgen finds support just below today's level at £5.76. If this is broken, then the next support from accumulated volume will be at £5.50 and £5.50.

This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved £0.650 between high and low, or 10.48%. For the last week the stock has had daily average volatility of 16.76%.

Our recommended stop-loss: £6.04 (-5.17%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 7 days ago.)

Trading Expectations (SNG.L) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Synairgen to open at £6.47, and during the day (based on 14 day Average True Range), to move between £5.23 and £7.50, which gives a possible trading interval of +/-£1.14 (+/-17.85%) up or down from last closing price. If Synairgen takes out the full calculated possible swing range there will be an estimated 35.69% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £6.40 (0.55%) than the support at £5.76 (9.51%), 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 Synairgen 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 Synairgen stock to perform well in the short-term.

Current score: 3.596 Buy Candidate Unchanged

Predicted Opening Price for Synairgen of Friday, April 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.