Sohu.com Inc. Stock Forecast
Stronger technical forecast for Sohu.com Inc. stock price after Monday trading.
(Updated on Apr 22, 2024)
The Sohu.com Inc. stock price gained 1.00% on the last trading day (Monday, 22nd Apr 2024), rising from $10.97 to $11.08. During the last trading day the stock fluctuated 2.76% from a day low at $10.88 to a day high of $11.18. The price has been going up and down for this period, and there has been a -3.23% loss 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, 12 thousand more shares were traded than the day before. In total, 30 thousand shares were bought and sold for approximately $337.34 thousand.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 18.47% during the next 3 months and, with a 90% probability hold a price between $11.88 and $13.94 at the end of this 3-month period.
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SOHU Signals & Forecast
The Sohu.com Inc. 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 $11.06 and $10.54. A breakdown below any of these levels will issue sell signals. Sohu.com Inc. 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. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -4.15%. 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).
Support, Risk & Stop-loss for Sohu.com Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $9.94 and $9.83. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Sohu.com Inc. finds support just below today's level at $9.94. If this is broken, then the next support from accumulated volume will be at $9.83 and $9.59.
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 $0.300 between high and low, or 2.76%. For the last week, the stock has had daily average volatility of 3.35%.
Our recommended stop-loss: $10.53 (-4.98%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 7 days ago.)
Trading Expectations (SOHU) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Sohu.com Inc. to open at $11.05, and during the day (based on 14 day Average True Range), to move between $10.73 and $11.43, which gives a possible trading interval of +/-$0.345 (+/-3.11%) up or down from last closing price. If Sohu.com Inc. takes out the full calculated possible swing range there will be an estimated 6.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11.09 (0.09%) than the support at $9.94 (10.29%), 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 Sohu.com Inc. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Sohu.com Inc. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.049 Buy Candidate Upgraded
Predicted Opening Price for Sohu.com Inc. of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $11.05 ( 0.301%) | $11.08 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SOHU
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.35 | 2.41 % | |
| R2 | 11.23 | 1.37 % | ||
| R1 | 11.16 | 0.733 % | ||
| Current price: | 11.08 | |||
| Support | S1 | 10.93 | -1.34 % | |
| S2 | 10.86 | -1.97 % | ||
| S3 | 10.75 | -3.01 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.43 | 3.16 % | |
| R2 | 11.19 | 0.99 % | ||
| R1 | 11.09 | 0.0903 % | ||
| Current price | 11.08 | |||
| Support | S1 | 9.94 | -10.29% | |
| S2 | 9.83 | -11.28% | ||
| S3 | 9.59 | -13.45% |
FAQ
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