SolarWinds Corp. Stock Forecast
Green day on Friday for SolarWinds Corp. stock after gaining 1.04%
(Updated on May 03, 2024)
The SolarWinds Corp. stock price gained 1.04% on the last trading day (Friday, 3rd May 2024), rising from $11.58 to $11.70. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.20% from a day low at $11.40 to a day high of $11.76. The price has risen in 8 of the last 10 days and is up by 7.34% over the past 2 weeks. Volume fell on the last day by -194 thousand shares and in total, 484 thousand shares were bought and sold for approximately $5.66 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies the upper part of a wide and falling 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 $11.91 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -12.88% during the next 3 months and, with a 90% probability hold a price between $8.88 and $10.37 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SWI Signals & Forecast
Mostly positive signals in the chart today. The SolarWinds Corp. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $11.26 and $11.56. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 10.48%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for SolarWinds Corp. stock
SolarWinds Corp. finds support from accumulated volume at $11.36 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.365 (3.20%) between high and low. For the last week, the stock has had daily average volatility of 2.92%.
The SolarWinds Corp. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $11.27 (-3.70%) (This stock has low daily movements and this gives low risk. The RSI14 is 77 and this increases the risk substantially. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (SWI) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect SolarWinds Corp. to open at $11.62, and during the day (based on 14 day Average True Range), to move between $11.39 and $12.01, which gives a possible trading interval of +/-$0.314 (+/-2.69%) up or down from last closing price. If SolarWinds Corp. takes out the full calculated possible swing range there will be an estimated 5.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11.99 (2.48%) than the support at $11.36 (2.91%), 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.
Is SolarWinds Corp. 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: 2.718 Buy Candidate Unchanged
Predicted Opening Price for SolarWinds Corp. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $11.62 ( 0.698%) | $11.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SWI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.98 | 2.42 % | |
| R2 | 11.84 | 1.23 % | ||
| R1 | 11.76 | 0.494 % | ||
| Current price: | 11.70 | |||
| Support | S1 | 11.48 | -1.89 % | |
| S2 | 11.39 | -2.63 % | ||
| S3 | 11.25 | -3.82 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.71 | 8.63 % | |
| R2 | 12.39 | 5.90 % | ||
| R1 | 11.99 | 2.48 % | ||
| Current price | 11.70 | |||
| Support | S1 | 11.36 | -2.91% | |
| S2 | 11.32 | -3.25% | ||
| S3 | 10.59 | -9.49% |
SWI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 02, 2024 | Apr 02, 2024 | Apr 03, 2024 | $1.00 | 8.80% |
| 2 | Jul 30, 2021 | Aug 06, 2021 | Aug 24, 2021 | $1.50 | 8.39% |
FAQ
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