SIG Price Prediction Next Week
Analysis and Insights
Technical Analysis:
Signet Jewelers (SIG) is currently trading at $47.23, with a Relative Strength Index (RSI) of 31.25, indicating oversold conditions. This suggests potential buying opportunities as selling pressure may be nearing exhaustion.
Fibonacci Levels:
The Fibonacci levels for SIG show a pivot point at $51.58, with resistance levels at $56.46 and $59.48, and support levels at $46.70 and $43.68. These levels are critical for determining potential price targets and reversal points.
News Sentiment and Event Impact:
The upcoming Valentine's Day spending surge is expected to boost jewelry sales, benefiting companies like Signet Jewelers. However, SIG's lowered 2025 guidance could weigh on investor sentiment.
Price Prediction and Recommendation:
Based on the oversold RSI and potential positive impact from Valentine's Day sales, SIG is likely to test the resistance level at $56.46.
Prediction: SIG stock price is expected to reach $56.46 by the end of the next trading week.
Recommendation: Buy SIG stock as it approaches the lower end of its support level, with a target price of $56.46.
SIG Similar Chart Price Prediction
The price of SIG is predicted to go up 6.64%, based on the high correlation periods with CCBG. The similarity of these two price pattern on the periods is 97.56%.
SIG
CCBG
Up: 6.64%Similarity: 97.56%
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SIG Analyst's Forecast
Dana Telsey
Telsey Advisory Group
Hold
2025-03-13
Price Target
$65 → $55
Upside
+18.48%
Telsey Advisory analyst Dana Telsey lowered the firm's price target on Signet Jewelers to $55 from $65 and keeps a Market Perform rating on the shares. The company's holiday sales and Q4 guidance reduction were disappointing, especially since this comes after most other retailers preannounced better-than-expected or in-line holiday sales, the analyst tells investors. The firm remains cautious on the uncertain macro environment and its impact on the company's mass consumer.
Ike Boruchow
Wells Fargo
Buy
2024-10-23
Price Target
$105 → $110
Upside
+17.5%
