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Volatile ride for Solar Integrated Roofing Corporation stock price on Wednesday moving between $0.33 and $0.40
(Updated on Dec 15, 2021)
The Solar Integrated Roofing Corporation stock price gained 13.60% on the last trading day (Wednesday, 15th Dec 2021), rising from $0.34 to $0.39. During the day the stock fluctuated 21.21% from a day low at $0.33 to a day high of $0.40. The price has fallen in 6 of the last 10 days and is down by -5.75% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 133 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $697.06 thousand.
The stock lies in the middle of a very 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 -29.57% during the next 3 months and, with a 90% probability hold a price between $0.24 and $0.33 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.
Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, December 14, 2021, and so far it has risen 13.60%. Further rise is indicated until a new top pivot has been found. Solar Integrated Roofing Corporation has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Solar Integrated Roofing Corporation stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $0.44. On a fall, the stock will find some support from the short-term average at $0.38. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss
Solar Integrated Roofing Corporation finds support from accumulated volume at $0.38 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be “high risk”. During the last day, the stock moved $0.0700 between high and low, or 21.21%. For the last week, the stock has had a daily average volatility of 8.91%.
Is Solar Integrated Roofing Corporation stock A Buy?
Solar Integrated Roofing Corporation 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -1.400
Predicted Opening Price for Solar Integrated Roofing Corporation of Thursday, December 16, 2021
The predicted opening price is based on yesterday’s movements between high, low, and the closing price.
Fair opening price December 16, 2021
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