Seventy Seven Energy Inc Stock Forecast
Seventy Seven Energy Inc stock downgraded to Sell Candidate
(Updated on Apr 24, 2024)
The Seventy Seven Energy Inc stock price fell by -0.720% on the last day (Wednesday, 24th Apr 2024) from £1,667.00 to £1,655.00. During the last trading day the stock fluctuated 1.40% from a day low at £1,648.00 to a day high of £1,671.00. The price has risen in 6 of the last 10 days and is up by 4.25% 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 -422 thousand shares and in total, 3 million shares were bought and sold for approximately £5.12 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 £1,664.36 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 £1,533.27 and £1,656.38 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 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 £1,648.29 and £1,626.67. A breakdown below any of these levels will issue sell signals. 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 Thursday, March 07, 2024, and so far it has fallen -0.81%. Further fall is indicated until a new bottom pivot has been found. 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 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 £23.00 between high and low, or 1.40%. For the last week the stock has had daily average volatility of 1.67%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SSE.L) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Seventy Seven Energy Inc to open at £1,658.00, and during the day (based on 14 day Average True Range), to move between £1,621.12 and £1,688.88, which gives a possible trading interval of +/-£33.88 (+/-2.05%) 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 4.09% 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 (0.73%) than the support at £1,619.00 (2.18%), 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?
Seventy Seven Energy Inc 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.692 Sell Candidate Downgraded
Predicted Opening Price for Seventy Seven Energy Inc of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| £1,658.00 ( 0.181%) | £1,655.00 |
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 | 1,681.00 | 1.57 % | |
| R2 | 1,672.21 | 1.04 % | ||
| R1 | 1,666.79 | 0.712 % | ||
| Current price: | 1,655.00 | |||
| Support | S1 | 1,649.21 | -0.350 % | |
| S2 | 1,643.79 | -0.678 % | ||
| S3 | 1,635.00 | -1.21 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,698.00 | 2.60 % | |
| R2 | 1,668.50 | 0.82 % | ||
| R1 | 1,667.00 | 0.725 % | ||
| Current price | 1,655.00 | |||
| Support | S1 | 1,619.00 | -2.18% | |
| S2 | 1,609.50 | -2.75% | ||
| S3 | 1,564.00 | -5.50% |
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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