The Sea Group $Sea Ltd(SE)$ stock price fell by -3.76% on Friday, 4th Aug 2023 from $61.76 to $59.44. During the last trading day the stock fluctuated 5.54% from a day low at $59.01 to a day high of $62.28. The price has fallen in 6 of the last 10 days and is down by -2.84% for this period. Volume has increased on the last day by 2 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 5 million shares were bought and sold for approximately $284.88 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 -20.08% during the next 3 months and, with a 90% probability hold a price between $39.70 and $52.31 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.
SE Signals & Forecast
There are few to no technical positive signals at the moment. The Sea Group stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $62.76 and $60.34. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, July 31, 2023, and so far it has fallen -10.64%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Sea Group stock
Sea Group finds support from accumulated volume at $58.57 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 $3.27 between high and low, or 5.54%. For the last week, the stock has had daily average volatility of 3.96%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SE) For The Trading Day Of Monday 7th
For the trading day on Monday, 7th we expect Sea Limited to open at $60.24, and during the day (based on 14 day Average True Range), to move between $56.75 and $62.13, which gives a possible trading interval of +/-$2.69 (+/-4.53%) up or down from last closing price. If Sea Limited takes out the full calculated possible swing range there will be an estimated 9.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $58.57 (1.46%) than the resistance at $64.36 (8.28%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sea Limited stock A Buy?
Sea Group holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
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