Sprout Social, Inc. Stock Forecast
Volatile ride for Sprout Social, Inc. stock price on Friday moving between $27.85 and $34.50
(Updated on May 03, 2024)
The Sprout Social, Inc. stock price fell by -40.15% on the last day (Friday, 3rd May 2024) from $48.15 to $28.82. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 23.88% from a day low at $27.85 to a day high of $34.50. The price has been going up and down for this period, and there has been a -43.47% loss for the last 2 weeks. Volume has increased on the last day by 12 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, 13 million shares were bought and sold for approximately $387.53 million.
The stock has broken the wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($47.52) are considered to be a "second chance" to get out. According to the fan-theory $42.07 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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SPT Signals & Forecast
There are few to no technical positive signals at the moment. The Sprout Social, Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $47.44 and $54.39. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 22, 2024, and so far it has fallen -52.21%. 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 Sprout Social, Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $6.65 between high and low, or 23.88%. For the last week, the stock has had daily average volatility of 8.35%.
Sprout Social, Inc. is oversold on RSI14 (9). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SPT) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Sprout Social, Inc. to open at $30.39, and during the day (based on 14 day Average True Range), to move between $25.29 and $32.35, which gives a possible trading interval of +/-$3.53 (+/-12.23%) up or down from last closing price. If Sprout Social, Inc. takes out the full calculated possible swing range there will be an estimated 24.47% move between the lowest and the highest trading price during the day.
Is Sprout Social, Inc. stock A Buy?
Sprout Social, Inc. holds several negative signals and is within a 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.
Current score: -7.219 Strong Sell Candidate Unchanged
Predicted Opening Price for Sprout Social, Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $30.39 ( 5.45%) | $28.82 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SPT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 37.04 | 28.52 % | |
| R2 | 34.50 | 19.71 % | ||
| R1 | 32.93 | 14.26 % | ||
| Current price: | 28.82 | |||
| Support | S1 | 27.85 | -3.37 % | |
| S2 | 26.28 | -8.81 % | ||
| S3 | 23.74 | -17.63 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 28.82 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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