To The Moon

The Sea Group $Sea Ltd(SE)$ stock price gained 4.39% on Monday, 31st Jul 2023, rising from $63.72 to $66.52. During the last trading day the stock fluctuated 4.21% from a day low at $64.37 to a day high of $67.08. The price has been going up and down for this period, and there has been a 6.02% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 318 thousand more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately $364.61 million.

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 -21.05% during the next 3 months and, with a 90% probability hold a price between $39.44 and $56.65 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.

SE Signals & Forecast

Mostly positive signals in the chart today. The Sea Group stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $62.22 and $60.59. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, July 07, 2023, and so far it has risen 20.99%. 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). Volume is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for Sea Group stock

Sea Group finds support from accumulated volume at $64.36 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $2.71 between high and low, or 4.21%. For the last week, the stock has had daily average volatility of 4.03%.

Our recommended stop-loss: $63.91 (-3.92%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 16 days ago.)

Trading Expectations (SE) For The Trading Day Of Tuesday 1st

For the trading day on Tuesday, 1st we expect Sea Limited to open at $65.99, and during the day (based on 14 day Average True Range), to move between $63.91 and $69.13, which gives a possible trading interval of +/-$2.61 (+/-3.92%) up or down from last closing price. If Sea Limited takes out the full calculated possible swing range there will be an estimated 7.85% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $67.97 (2.18%) than the support at $64.36 (3.25%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Sea Limited stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.