Sphere 3D Corp. Stock Forecast
Green day on Thursday for Sphere 3D Corp. stock after gaining 2.83%
(Updated on Apr 18, 2024)
The Sphere 3D Corp. stock price gained 2.83% on the last trading day (Thursday, 18th Apr 2024), rising from $1.06 to $1.09. During the last trading day the stock fluctuated 8.65% from a day low at $1.04 to a day high of $1.13. The price has fallen in 6 of the last 10 days and is down by -18.05% for this period. Volume fell on the last day by -91 thousand shares and in total, 261 thousand shares were bought and sold for approximately $284.63 thousand. 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 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 $1.00 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -42.04% during the next 3 months and, with a 90% probability hold a price between $0.580 and $0.97 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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ANY Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 4.81%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Sphere 3D Corp. 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 $1.12 and $1.45. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Sphere 3D Corp. stock
Sphere 3D Corp. finds support from accumulated volume at $1.08 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 very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0900 between high and low, or 8.65%. For the last week the stock has had daily average volatility of 10.98%.
Sphere 3D Corp. is oversold on RSI14 (13). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ANY) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Sphere 3D Corp. to open at $1.09, and during the day (based on 14 day Average True Range), to move between $0.96 and $1.22, which gives a possible trading interval of +/-$0.132 (+/-12.10%) up or down from last closing price. If Sphere 3D Corp. takes out the full calculated possible swing range there will be an estimated 24.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.08 (0.92%) than the resistance at $1.25 (14.68%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sphere 3D Corp. stock A Buy?
Sphere 3D Corp. 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.
Current score: -4.479 Sell Candidate Unchanged
Predicted Opening Price for Sphere 3D Corp. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $1.09 ( 0.306%) | $1.09 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ANY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.18 | 7.95 % | |
| R2 | 1.14 | 4.80 % | ||
| R1 | 1.12 | 2.85 % | ||
| Current price: | 1.09 | |||
| Support | S1 | 1.05 | -3.46 % | |
| S2 | 1.03 | -5.41 % | ||
| S3 | 1.00 | -8.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.36 | 24.77 % | |
| R2 | 1.33 | 22.02 % | ||
| R1 | 1.25 | 14.68 % | ||
| Current price | 1.09 | |||
| Support | S1 | 1.08 | -0.92% | |
| S2 | 1.06 | -2.75% | ||
| S3 | 1.04 | -4.59% |
FAQ
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