SILVERSUN TECH Stock Analysis
Technical stock analysis for 18 January 2019
SILVERSUN TECH gained 6.82% in the last trading day, rising from $2.20 to $2.35 , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. The price has risen in 6 of the last 10 days and is up by 17.5% over the past 2 weeks. Volume fell in the last day by -1 448 shares, and in total, 2 705 shares bought and sold for approximately $6 356.75. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
Close price at the end of the last trading day (Friday, 18th Jan 2019) of the SSNT stock was $2.35. This is 6.82% more than the trading day before Thursday, 17th Jan 2019.
During day the stock fluctuated 6.82% from a day low at $2.20 to a day high of $2.35.
30 day high of the SSNT stock price was $3.00 and low was $2.00.
90 day high was $4.25 and low was $2.00.
52 week high for the SILVERSUN TECH - $4.56 and low - $2.00.
SILVERSUN TECH lies the upper part of a very wide and falling trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $2.48 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -39.38% during the next 3 months and, with 90% probability hold a price between $0.84 and $1.50 at the end of this period.
A buy signal was issued from a pivot bottom point on Wednesday January 16, 2019, which indicates further gains until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. SILVERSUN TECH holds a buysignal from the short-term moving average; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general sales signal in the stock. On further gains, the stock will meet resistance from the long-term moving average at $2.44. On a fall, the stock will find some support from the short-term average at $2.23. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Relative Strength Index (RSI)
RSI14 is 43 and the stock is currently not being overbought or oversold
Support & Resistance
SILVERSUN TECH finds support from accumulated volume at $2.31.
This stock may move much during a day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.15 between high and low, or 6.82%. For the last week the stock has had a daily average volatility of 6.71%.
Our recommended stoploss: $2.24 (-4.72%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from pivot bottom found 2 days ago.)
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Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Buy Candidate.
|SSNT $2.35 $0.15(6.82%)|
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