Volatile ride for Phunware Inc. stock price on Wednesday moving between $4.51 and $5.65

The Phunware Inc. stock price gained 9.89% on the last trading day (Wednesday, 27th Oct 2021), rising from $4.35 to $4.78. During the day the stock fluctuated 25.28% from a day low at $4.51 to a day high of $5.65. The price has risen in 5 of the last 10 days and is up by 412.88% 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, 47 million more shares were traded than the day before. In total, 172 million shares were bought and sold for approximately $821.01 million.

On Sep 01, 2021 "Roth Capital" gave "$1.75" rating for PHUN. The price target was set to $1.11+4.7%.

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 24.13% during the next 3 months and, with a 90% probability hold a price between $1.45 and $10.95 at the end of this 3-month period.

The Phunware Inc. 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 $4.09 and $1.59. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month 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 Friday, October 22, 2021, and so far it has fallen -45.31%. 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 $4.35.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 $1.14 between high and low, or 25.28%. For the last week, the stock has had a daily average volatility of 117.41%.

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 Phunware Inc. stock to perform well in the short-term.