SunLink Health Systems, Inc Stock Forecast
SunLink Health Systems, Inc stock downgraded to Sell Candidate
(Updated on Mar 27, 2024)
The SunLink Health Systems, Inc stock price fell by -2.67% on the last day (Wednesday, 27th Mar 2024) from $0.750 to $0.730. During the last trading day the stock fluctuated 5.34% from a day low at $0.712 to a day high of $0.750. The price has risen in 6 of the last 10 days but is still down by -3.3% for this period. Volume has increased on the last day by 5 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, 8 thousand shares were bought and sold for approximately $6.07 thousand.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -23.47% during the next 3 months and, with a 90% probability hold a price between $0.540 and $0.609 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SSY Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, March 19, 2024, and so far it has fallen 0%. 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. The SunLink Health Systems, Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.738 and $0.80. A break-up above any of these levels will issue buy signals. SunLink Health Systems, Inc gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for SunLink Health Systems, Inc stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.0380 between high and low, or 5.34%. For the last week, the stock has had daily average volatility of 3.29%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SSY) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect SunLink Health Systems, Inc to open at $0.731, and during the day (based on 14 day Average True Range), to move between $0.696 and $0.764, which gives a possible trading interval of +/-$0.0337 (+/-4.61%) up or down from last closing price. If SunLink Health Systems, Inc takes out the full calculated possible swing range there will be an estimated 9.23% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.90, some $0.170 (23.27%) from the current price of $0.730, our system finds the risk reward not very attractive.
Is SunLink Health Systems, Inc stock A Buy?
SunLink Health Systems, Inc holds several negative signals and is within a wide and falling trend, so we believe 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: -2.980 Sell Candidate Downgraded
Predicted Opening Price for SunLink Health Systems, Inc of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$0.731 ( 0.0913%) | $0.730 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SSY
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.769 | 5.30 % | |
R2 | 0.754 | 3.31 % | ||
R1 | 0.745 | 2.08 % | ||
Current price: | 0.730 | |||
Support | S1 | 0.716 | -1.90 % | |
S2 | 0.707 | -3.13 % | ||
S3 | 0.693 | -5.11 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.91 | 24.49 % | |
R2 | 0.90 | 23.29 % | ||
R1 | 0.90 | 23.27 % | ||
Current price | 0.730 | |||
Support | S1 | 0 | . | |
S2 | 0 | . | ||
S3 | 0 | . |
SSY Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Nov 22, 1993 | Nov 22, 1993 | Nov 22, 1993 | $0.262 | 4.76% |
2 | Sep 18, 1989 | Sep 29, 1989 | Oct 20, 1989 | $0.0247 | 0.600% |
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