High volatility in support.com stock price on Thursday which ended trading at $22.00StockInvest.us, 2 weeks ago
The support.com stock price fell by -8.71% on the last day (Thursday, 2nd Sep 2021) from $24.10 to $22.00. and has now fallen 4 days in a row. During the day the stock fluctuated 36.09% from a day low at $21.31 to a day high of $29.00. The price has risen in 7 of the last 10 days and is up by 150.86% over the past 2 weeks. Volume has increased on the last day by 2 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, 29 million shares were bought and sold for approximately $637.77 million.
The stock lies in the middle of a very 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 75.86% during the next 3 months and, with a 90% probability hold a price between $19.16 and $65.32 at the end of this 3-month period.
The support.com stock holds a sell signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $24.83. On a fall, the stock will find some support from the long-term average at approximately $10.84. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 months Moving Average Convergence Divergence (MACD). 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, August 30, 2021, and so far it has fallen -39.54%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
On the downside, the stock finds support just below today's level from accumulated volume at $19.70.With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0 may give a huge drop in the stock price.
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 $7.69 between high and low, or 36.09%. For the last week, the stock has had a daily average volatility of 51.42%.
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 support.com stock to perform well in the short-term.Check full support.com forecast and analysis here.