High volatility in support.com stock price on Wednesday which ended trading at $23.16StockInvest.us, 1 week ago
The support.com stock price gained 20.00% on the last trading day (Wednesday, 8th Sep 2021), rising from $19.30 to $23.16. During the day the stock fluctuated 25.44% from a day low at $18.55 to a day high of $23.27. The price has been going up and down for this period, and there has been a 98.46% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 7 million more shares were traded than the day before. In total, 27 million shares were bought and sold for approximately $618.11 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 93.84% during the next 3 months and, with a 90% probability hold a price between $23.73 and $73.95 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 $25.47. On a fall, the stock will find some support from the long-term average at approximately $12.31. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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 -36.36%. Further fall is indicated until a new bottom pivot has been found.
On the downside, the stock finds support just below today's level from accumulated volume at $22.00 and $21.95.There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, support.com finds support just below today's level at $22.00. If this is broken, then the next support from accumulated volume will be at $21.95 and $19.70.
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 $4.72 between high and low, or 25.44%. For the last week, the stock has had a daily average volatility of 27.59%.
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.