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Solar Integrated Roofing Corporation stock upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Dec 23, 2021)
No changes to the price of Solar Integrated Roofing Corporation stock on the last trading day (Thursday, 23rd Dec 2021). During the day the stock fluctuated 0% from a day low at $0.36 to a day high of $0.36. The price has fallen in 5 of the last 10 days and is down by -6.76% for this period.
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 -31.34% during the next 3 months and, with a 90% probability hold a price between $0.20 and $0.31 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
There are mixed signals in the stock today. The Solar Integrated Roofing Corporation 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 $0.37 and $0.42. A break-up above any of these levels will issue buy signals. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible “turning point”. The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Monday, December 20, 2021, 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).
Support, Risk & Stop-loss
Solar Integrated Roofing Corporation finds support from accumulated volume at $0.36 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had a daily average volatility of 4.91%
Our recommended stop-loss: $0.34 (-6.26%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 3 days ago.)
Is Solar Integrated Roofing Corporation stock A Buy?
Solar Integrated Roofing Corporation 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.
Predicted Opening Price for Solar Integrated Roofing Corporation of Monday, December 27, 2021
The predicted opening price is based on yesterday’s movements between high, low, and the closing price.
Fair opening price December 27, 2021
$0.36
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https://stockinvest.us/stock/SIRC
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