Finance

Did Signet Jewelers Limited (SIG) Trigger A Hold Signal?

Signet Jewelers Limited (NYSE:SIG) fell by -7.63% during last session from $60.25 to $55.65 and has now fallen 3 consecutive sessions. The price has been moving in both directions for this period, and there has been a -10.72% loss over 10-day period. Volume has increased during last session by 0.59 million shares, but on a weak note. This is may be an early warning and the risk will be increased slightly for the next couple of days. In total, 2.13 M shares exchanged hands for about $118.80 million.

Inside SIG’s Recent Trend

Signet Jewelers Limited (SIG) lies in the middle of a very wide and weak rising trend in the short term and issued considerable signs about additional rally. Short-term traders are predicted to see a rally of 8.45% over the course of a quarter and, with 90% chance the price will be floating in the range of $56.46 and $71.82 in this timeframe.

Signet Jewelers Limited Technical Signals



SIG has witnessed its long term and short term MA triggering a sell signal. Many traders watch for long-term averages to cross above short-term averages to signal the beginning of a downtrend. Upon corrections, the price will meet resistance from the averages between $59.93 and $60.53. A buy signal will be generated if it crosses above any of these levels. Its pivot point high generated sell signal on Tuesday August 08, 2017, which calls for additional declines until the stock forms a new pivot point low, as this could be a buying opportunity. Volume up and price depreciating is getting our attention as this movement is seen as bearish sign.

Signet Jewelers Limited (NYSE:SIG) Support And Resistance Levels

In case of pullback, the next support the price will capture from accumulated volume will not be far away from current price at $52.41 and $50.30. In case of gains, the next resistance from accumulated volume will not be far away from today’s level at $56.11, $59.16 and $59.49.




It is important to note, however, that the stock needs to make its way through natural risk while testing a key support level. Once this support is broken, another support level will be to be established at a lower level. Turning back to this stock, Signet Jewelers Limited approaches the first support point just current price at $52.41. In case of a break, the next support we will see from accumulated volume is going to be at $50.30 and $49.31. Accumulated volume is going to prevent the price from rising further at $56.11 and this action will lead the price to take a temporary pause or stay muted for a few days.

Signet Jewelers Limited (SIG) Risk Assessment

The number of shares changed hands in the stock is good, indicating the interest and low risk associated with it. In the most recent session, the stock price hovered around $4.65 (8.47%) between intraday high and intraday low. Each day in the past 1 week, the average volatility remained at 4.31%.

 

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