Smith Micro Software Stock Forecast
Green day on Friday for Smith Micro Software stock after gaining 1.74%
(Updated on May 03, 2024)
The Smith Micro Software stock price gained 1.74% on the last trading day (Friday, 3rd May 2024), rising from $2.30 to $2.34. During the last trading day the stock fluctuated 5.70% from a day low at $2.30 to a day high of $2.43. The price has risen in 7 of the last 10 days and is up by 12.5% 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, 36 thousand more shares were traded than the day before. In total, 99 thousand shares were bought and sold for approximately $230.81 thousand.
The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $2.59 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 191.13% during the next 3 months and, with a 90% probability hold a price between $2.24 and $7.54 at the end of this 3-month period.
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SMSI Signals & Forecast
The Smith Micro Software 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 $2.32 and $1.24. A breakdown below any of these levels will issue sell signals. Smith Micro Software 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 Monday, April 29, 2024, and so far it has fallen -5.65%. 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 Smith Micro Software stock
Smith Micro Software finds support from accumulated volume at $2.23 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.131 between high and low, or 5.70%. For the last week, the stock has had daily average volatility of 9.41%.
Our recommended stop-loss: $2.21 (-5.51%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (SMSI) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Smith Micro Software to open at $2.36, and during the day (based on 14 day Average True Range), to move between $2.12 and $2.56, which gives a possible trading interval of +/-$0.221 (+/-9.45%) up or down from last closing price. If Smith Micro Software takes out the full calculated possible swing range there will be an estimated 18.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.36 (0.85%) than the support at $2.23 (4.91%), 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.
Earnings coming up
Smith Micro Software will release earnings AMC on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.400. We will update the financials statements for Smith Micro Software, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.72% in the first trading day after earnings release.
Is Smith Micro Software 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 Smith Micro Software stock to perform well in the short-term.
Current score: 2.613 Buy Candidate Unchanged
Predicted Opening Price for Smith Micro Software of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $2.36 ( 0.728%) | $2.34 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SMSI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.49 | 6.33 % | |
| R2 | 2.44 | 4.19 % | ||
| R1 | 2.41 | 2.87 % | ||
| Current price: | 2.34 | |||
| Support | S1 | 2.31 | -1.41 % | |
| S2 | 2.28 | -2.73 % | ||
| S3 | 2.23 | -4.87 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 2.48 | 5.98 % | ||
| R1 | 2.36 | 0.85 % | ||
| Current price | 2.34 | |||
| Support | S1 | 2.23 | -4.91% | |
| S2 | 2.18 | -6.84% | ||
| S3 | 2.08 | -11.11% |
FAQ
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