Similarweb Ltd. Stock Forecast
Similarweb Ltd. stock price down 3.17% on Friday
(Updated on May 10, 2024)
The Similarweb Ltd. stock price fell by -3.17% on the last day (Friday, 10th May 2024) from $7.26 to $7.03. During the last trading day the stock fluctuated 4.00% from a day low at $7.00 to a day high of $7.28. The price has fallen in 7 of the last 10 days and is down by -10.1% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -113 thousand shares and in total, 164 thousand shares were bought and sold for approximately $1.15 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $6.97 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -10.55% during the next 3 months and, with a 90% probability hold a price between $6.23 and $7.85 at the end of this 3-month period.
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SMWB Signals & Forecast
There are mixed signals in the stock today. The Similarweb Ltd. 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 $7.32 and $8.01. A break-up above any of these levels will issue buy signals. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. A buy signal was issued from a pivot bottom point on Wednesday, May 08, 2024, and so far it has risen 0.429%. 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).
Support, Risk & Stop-loss for Similarweb Ltd. stock
Similarweb Ltd. finds support from accumulated volume at $7.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.280 between high and low, or 4.00%. For the last week the stock has had daily average volatility of 5.06%.
Our recommended stop-loss: $6.60 (-6.05%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (SMWB) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Similarweb Ltd. to open at $7.10, and during the day (based on 14 day Average True Range), to move between $6.67 and $7.39, which gives a possible trading interval of +/-$0.364 (+/-5.17%) up or down from last closing price. If Similarweb Ltd. takes out the full calculated possible swing range there will be an estimated 10.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.00 (0.43%) than the resistance at $7.45 (5.97%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Similarweb Ltd. stock A Buy?
Similarweb Ltd. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.076 Hold/Accumulate Unchanged
Predicted Opening Price for Similarweb Ltd. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $7.10 ( 1.04%) | $7.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SMWB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.38 | 5.03 % | |
| R2 | 7.28 | 3.50 % | ||
| R1 | 7.21 | 2.56 % | ||
| Current price: | 7.03 | |||
| Support | S1 | 7.00 | -0.478 % | |
| S2 | 6.93 | -1.42 % | ||
| S3 | 6.82 | -2.94 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.32 | 18.35 % | |
| R2 | 7.56 | 7.54 % | ||
| R1 | 7.45 | 5.97 % | ||
| Current price | 7.03 | |||
| Support | S1 | 7.00 | -0.427% | |
| S2 | 6.98 | -0.711% | ||
| S3 | 6.66 | -5.26% |
FAQ
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