SILVERSUN TECH Stock Forecast

SILVERSUN TECH stock upgraded from Sell Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Apr 23, 2024)

SSNT Signals & Forecast

The SILVERSUN TECH 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 $14.02. On a fall, the stock will find some support from the long-term average at approximately $13.52. 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. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 3.72%. 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. 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 also not.

Support, Risk & Stop-loss for SILVERSUN TECH stock

SILVERSUN TECH finds support from accumulated volume at $13.56 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.99 between high and low, or 7.44%. For the last week the stock has had daily average volatility of 9.18%.

Our recommended stop-loss: $13.10 (-4.08%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)

Trading Expectations (SSNT) For The Upcoming Trading Day Of Wednesday 24th

For the upcoming trading day on Wednesday, 24th we expect SILVERSUN TECH to open at $13.76, and during the day (based on 14 day Average True Range), to move between $12.59 and $14.73, which gives a possible trading interval of +/-$1.07 (+/-7.83%) up or down from last closing price. If SILVERSUN TECH takes out the full calculated possible swing range there will be an estimated 15.66% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $13.56 (0.73%) than the resistance at $13.90 (1.76%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is SILVERSUN TECH stock A Buy?

SILVERSUN TECH holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.411 Hold/Accumulate Upgraded

Predicted Opening Price for SILVERSUN TECH of Wednesday, April 24, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.