SHIFT Inc. Stock Forecast
Evaluation of SHIFT Inc. stock downgraded after the last trading session.
(Updated on Apr 26, 2024)
The SHIFT Inc. stock price fell by -1.04% on the last day (Friday, 26th Apr 2024) from JP¥14,835.00 to JP¥14,680.00. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 2.32% from a day low at JP¥14,435.00 to a day high of JP¥14,770.00. The price has fallen in 8 of the last 10 days and is down by -21.14% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -125 thousand shares and in total, 453 thousand shares were bought and sold for approximately JP¥6.65 billion.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at JP¥14,357.99 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -37.67% during the next 3 months and, with a 90% probability hold a price between JP¥8,949.40 and JP¥12,482.00 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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3697.T Signals & Forecast
There are few to no technical positive signals at the moment. The SHIFT Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at JP¥15,660.00 and JP¥21,451.14. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 22, 2024, and so far it has fallen -11.54%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for SHIFT Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 JP¥335.00 between high and low, or 2.32%. For the last week, the stock has had daily average volatility of 5.49%.
SHIFT Inc. is oversold on RSI14 (17). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (3697.T) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect SHIFT Inc. to open at JP¥14,628.33, and during the day (based on 14 day Average True Range), to move between JP¥13,727.02 and JP¥15,632.98, which gives a possible trading interval of +/-JP¥952.98 (+/-6.49%) up or down from last closing price. If SHIFT Inc. takes out the full calculated possible swing range there will be an estimated 12.98% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ JP¥16,595.00, some JP¥1,915.00 (13.04%) from the current price of JP¥14,680.00, our system finds the risk reward not very attractive.
Is SHIFT Inc. stock A Buy?
SHIFT Inc. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.988 Strong Sell Candidate Downgraded
Predicted Opening Price for SHIFT Inc. of Tuesday, April 30, 2024
| Fair opening price April 30, 2024 | Current price |
|---|---|
| JP¥14,628.33 ( 0.352%) | JP¥14,680.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3697.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14,963.33 | 1.93 % | |
| R2 | 14,835.36 | 1.06 % | ||
| R1 | 14,756.30 | 0.520 % | ||
| Current price: | 14,680.00 | |||
| Support | S1 | 14,500.36 | -1.22 % | |
| S2 | 14,421.30 | -1.76 % | ||
| S3 | 14,293.33 | -2.63 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17,490.00 | 19.14 % | |
| R2 | 16,950.00 | 15.46 % | ||
| R1 | 16,595.00 | 13.04 % | ||
| Current price | 14,680.00 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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