Seventy Seven Energy Inc Stock Forecast
Seventy Seven Energy Inc stock upgraded from Sell Candidate to Buy Candidate after Thursday trading session.
(Updated on Apr 25, 2024)
The Seventy Seven Energy Inc stock price fell by -0.272% on the last day (Thursday, 25th Apr 2024) from £1,655.00 to £1,650.50. During the last trading day the stock fluctuated 1.96% from a day low at £1,634.00 to a day high of £1,666.00. The price has been going up and down for this period, and there has been a 2.61% gain for the last 2 weeks. Volume has increased on the last day by 251 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 3 million shares were bought and sold for approximately £5.52 billion.
The stockis at the upper part of a horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at £1,671.24 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Seventy Seven Energy Inc stock with a 90% probability to be traded between £1,555.95 and £1,676.41 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SSE.L Signals & Forecast
The Seventy Seven Energy Inc 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 £1,652.14. On a fall, the stock will find some support from the long-term average at approximately £1,626.44. 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. 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. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -0.99%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
A sell signal from a double top formation was found on Tuesday, April 23, 2024 and based on theory for this formation the price should fall by -1.72% to £1,622.05 within 31 trading days since signal was issued (Friday, April 26, 2024).
Support, Risk & Stop-loss for Seventy Seven Energy Inc stock
Seventy Seven Energy Inc finds support from accumulated volume at £1,619.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved £32.00 between high and low, or 1.96%. For the last week the stock has had daily average volatility of 1.79%.
Our recommended stop-loss: £1,599.40 (-3.10%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (SSE.L) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Seventy Seven Energy Inc to open at £1,650.17, and during the day (based on 14 day Average True Range), to move between £1,616.81 and £1,684.19, which gives a possible trading interval of +/-£33.69 (+/-2.04%) up or down from last closing price. If Seventy Seven Energy Inc takes out the full calculated possible swing range there will be an estimated 4.08% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £1,667.00 (1.00%) than the support at £1,619.00 (1.91%), 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 Seventy Seven Energy Inc stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Seventy Seven Energy Inc stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.047 Buy Candidate Upgraded
Predicted Opening Price for Seventy Seven Energy Inc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| £1,650.17 ( 0.0202%) | £1,650.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SSE.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,682.17 | 1.92 % | |
| R2 | 1,669.94 | 1.18 % | ||
| R1 | 1,662.39 | 0.720 % | ||
| Current price: | 1,650.50 | |||
| Support | S1 | 1,637.94 | -0.761 % | |
| S2 | 1,630.39 | -1.22 % | ||
| S3 | 1,618.17 | -1.96 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,698.00 | 2.88 % | |
| R2 | 1,668.50 | 1.09 % | ||
| R1 | 1,667.00 | 1.00 % | ||
| Current price | 1,650.50 | |||
| Support | S1 | 1,619.00 | -1.91% | |
| S2 | 1,609.50 | -2.48% | ||
| S3 | 1,564.00 | -5.24% |
SSE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 11, 2024 | Jan 11, 2024 | Jan 11, 2024 | £0 | 0% |
| 2 | Jul 27, 2023 | Jul 27, 2023 | Jul 27, 2023 | £67.70 | 3.98% |
| 3 | Nov 16, 2022 | Jan 12, 2023 | Mar 09, 2023 | £29.00 | 1.68% |
| 4 | May 25, 2022 | Jul 28, 2022 | Sep 22, 2022 | £60.20 | 3.50% |
| 5 | Nov 17, 2021 | Jan 13, 2022 | Mar 10, 2022 | £25.50 | 1.53% |
FAQ
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