Reeds Stock Forecast
Reeds stock price up 2.99% on Wednesday
(Updated on Apr 24, 2024)
The Reeds stock price gained 2.99% on the last trading day (Wednesday, 24th Apr 2024), rising from $1.67 to $1.72. During the last trading day the stock fluctuated 4.12% from a day low at $1.70 to a day high of $1.77. The price has risen in 6 of the last 10 days and is up by 13.16% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 528 more shares were traded than the day before. In total, 1 thousand shares were bought and sold for approximately $1.81 thousand.
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 -8.72% during the next 3 months and, with a 90% probability hold a price between $1.30 and $2.06 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
REED Signals & Forecast
Mostly positive signals in the chart today. The Reeds stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $1.80. On a fall, the stock will find some support from the long-term average at approximately $1.67. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 3.93%. 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). Reeds has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Reeds stock
Reeds finds support from accumulated volume at $1.64 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0700 between high and low, or 4.12%. For the last week, the stock has had daily average volatility of 2.52%.
Our recommended stop-loss: $1.64 (-4.53%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (REED) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Reeds to open at $1.73, and during the day (based on 14 day Average True Range), to move between $1.55 and $1.89, which gives a possible trading interval of +/-$0.175 (+/-10.16%) up or down from last closing price. If Reeds takes out the full calculated possible swing range there will be an estimated 20.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.76 (2.33%) than the support at $1.64 (4.65%), 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 Reeds 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.
Current score: 1.220 Buy Candidate Unchanged
Predicted Opening Price for Reeds of Thursday, April 25, 2024
Fair opening price April 25, 2024 | Current price |
---|---|
$1.73 ( 0.581%) | $1.72 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for REED
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.80 | 4.65 % | |
R2 | 1.77 | 3.10 % | ||
R1 | 1.76 | 2.14 % | ||
Current price: | 1.72 | |||
Support | S1 | 1.70 | -0.97 % | |
S2 | 1.69 | -1.93 % | ||
S3 | 1.66 | -3.49 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.97 | 14.53 % | |
R2 | 1.78 | 3.49 % | ||
R1 | 1.76 | 2.33 % | ||
Current price | 1.72 | |||
Support | S1 | 1.64 | -4.65% | |
S2 | 1.63 | -5.23% | ||
S3 | 1.59 | -7.85% |
FAQ
Click here for our free guide on how to buy Reeds Stock.