Why Siyata Mobile Stock Is Moving

Siyata Mobile, Inc. SYTA shares are moving on heavy trading volume Wednesday after the company announced the expansion of its SD7 rollout at Baha Mar Resort.

The Details:

Siyata Mobile said the Baha Mar resort in Nassau, Bahamas is using hundreds of SD7 handsets and accessories to extend usage of the devices across the property. 

“We delivered the Baha Mar Resort its first SD7 handsets and accessories more than a year ago to replace two-way radios used primarily by the resort’s security team. Given the success they are experiencing, they have ordered additional units to be deployed across the property for use by staff in valet and bellman services, engineering, the water park, beach, pool, lobbies and other public areas," commented Marc Seelenfreund, CEO of Siyata. 

On Tuesday, Siyata introduced the SD7 Wired Palm Mic Pro with AI Noise Cancellation for use with the company’s SD7 Handset designed for workers in noisy environments to communicate more clearly. 

“The Wired Palm Mic Pro with AI Noise Cancellation is the first AI-based RSM allowing first responders and enterprise customers to communicate more clearly in loud environments. We are confident that this product will be a game changer in this large-scale market and look forward to launching additional innovations in 2024,” said Seelenfreund. 

Siyata shares are moving on heavy trading volume Wednesday with more than 42.5 million shares already traded in the session. According to data from Benzinga Pro, the stock’s 100-day average volume is less than 135,000 shares.

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SYTA Stock Prediction 2024:

Equity research analysts on and off Wall Street typically use earnings growth and fundamental research as a form of valuation and forecasting. But many in trading turn to technical analysis as a way to form predictive models for share price trajectory.

Some investors look to trends to help forecast where they believe a stock could trade at a certain point in the future. Looking at Siyata Mobile, an investor could make an assessment about a stock's long term prospects using a moving average and trend line. If they believe a stock will remain above the moving average, which many believe is a bullish signal, they can extrapolate that trend into the future using a trend line. For Siyata Mobile, the 200-day moving average sits at $7.84, according to Benzinga Pro, which is above the current price of $2.69. For more on charts and trend lines, see a description here.

Traders believe that when a stock is above its moving average, it is a generally bullish signal, and when it crosses below, it is a more negative signal. Investors could use trend lines to make an educated guess about where a stock could trade at a later date if conditions remain stable.

SYTA Price Action: According to Benzinga Pro, Siyata Mobile shares are up 8.33% at $2.60 at the time of publication Wednesday.

Image: Joseph Mucira from Pixabay