Serabi Gold PLC Stock Forecast
Serabi Gold PLC stock price down 1.54% on Tuesday
(Updated on Apr 23, 2024)
The Serabi Gold PLC stock price fell by -1.54% on the last day (Tuesday, 23rd Apr 2024) from £65.00 to £64.00. During the last trading day the stock fluctuated 2.69% from a day low at £63.10 to a day high of £64.80. The price has fallen in 6 of the last 10 days but is still up by 1.59% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -155 thousand shares and in total, 69 thousand shares were bought and sold for approximately £4.44 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 43.97% during the next 3 months and, with a 90% probability hold a price between £85.62 and £106.34 at the end of this 3-month period.
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SRB.L Signals & Forecast
The Serabi Gold 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 £63.29 and £62.14. 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, April 05, 2024, and so far it has fallen -7.91%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Serabi Gold PLC stock
On the downside, the stock finds support just below today's level from accumulated volume at £60.00 and £51.50. 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, Serabi Gold PLC finds support just below today's level at £60.00. If this is broken, then the next support from accumulated volume will be at £51.50 and £51.00.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved £1.70 between high and low, or 2.69%. For the last week, the stock has had daily average volatility of 5.49%.
Our recommended stop-loss: £60.49 (-5.49%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (SRB.L) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Serabi Gold PLC to open at £63.97, and during the day (based on 14 day Average True Range), to move between £60.85 and £67.15, which gives a possible trading interval of +/-£3.15 (+/-4.92%) up or down from last closing price. If Serabi Gold PLC takes out the full calculated possible swing range there will be an estimated 9.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £65.00 (1.56%) than the support at £60.00 (6.25%), 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.
Earnings coming up
Serabi Gold PLC will release earnings BMO on Wednesday, May 01, 2024. We will update the financials statements for Serabi Gold PLC, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.48% in the first trading day after earnings release.
Is Serabi Gold PLC 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 Serabi Gold PLC stock to perform well in the short-term.
Current score: 2.501 Buy Candidate Unchanged
Predicted Opening Price for Serabi Gold PLC of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| £63.97 ( 0.0521%) | £64.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SRB.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 65.67 | 2.60 % | |
| R2 | 65.02 | 1.59 % | ||
| R1 | 64.62 | 0.96 % | ||
| Current price: | 64.00 | |||
| Support | S1 | 63.32 | -1.07 % | |
| S2 | 62.92 | -1.69 % | ||
| S3 | 62.27 | -2.71 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 69.00 | 7.81 % | |
| R2 | 67.00 | 4.69 % | ||
| R1 | 65.00 | 1.56 % | ||
| Current price | 64.00 | |||
| Support | S1 | 60.00 | -6.25% | |
| S2 | 51.50 | -19.53% | ||
| S3 | 51.00 | -20.31% |
FAQ
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