Sphere 3D Corp. stock price ended on $6.69 on Friday after gaining 0.45%StockInvest.us, 1 week ago
The Sphere 3D Corp. stock price gained 0.45% on the last trading day (Friday, 8th Oct 2021), rising from $6.66 to $6.69. During the day the stock fluctuated 6.12% from a day low at $6.37 to a day high of $6.76. The price has risen in 7 of the last 10 days and is up by 13.78% over the past 2 weeks. Volume fell on the last day by -14 million shares and in total, 14 million shares were bought and sold for approximately $91.61 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 in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $6.15 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift.Given the current short-term trend, the stock is expected to rise 71.45% during the next 3 months and, with a 90% probability hold a price between $10.54 and $19.25 at the end of this 3-month period.
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Thursday, September 02, 2021, and so far it has fallen -28.83%. 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). The Sphere 3D Corp. 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 $6.34 and $6.12. A breakdown below any of these levels will issue sell signals. 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.
Sphere 3D Corp. finds support from accumulated volume at $6.40 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.39 between high and low, or 6.12%. For the last week, the stock has had a daily average volatility of 9.86%.
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 Sphere 3D Corp. stock to perform well in the short-term.Check full Sphere 3D Corp. forecast and analysis here.