Extreme Networks Stock Forecast
Stronger technical forecast for Extreme Networks stock price after Monday trading.
(Updated on Apr 22, 2024)
The Extreme Networks stock price fell by -2.19% on the last day (Monday, 22nd Apr 2024) from $10.97 to $10.73. During the last trading day the stock fluctuated 3.27% from a day low at $10.70 to a day high of $11.05. The price has been going up and down for this period, and there has been a -3.33% loss for the last 2 weeks. Volume has increased on the last day by 201 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 million shares were bought and sold for approximately $17.01 million.
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 $10.15 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -23.86% during the next 3 months and, with a 90% probability hold a price between $7.73 and $10.05 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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EXTR Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 0.280%. 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 Extreme Networks 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 $10.96 and $11.42. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Extreme Networks stock
Extreme Networks finds support from accumulated volume at $10.70 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.350 (3.27%) between high and low. For the last week, the stock has had daily average volatility of 3.06%.
Our recommended stop-loss: $10.19 (-5.06%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (EXTR) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Extreme Networks to open at $10.83, and during the day (based on 14 day Average True Range), to move between $10.35 and $11.11, which gives a possible trading interval of +/-$0.377 (+/-3.51%) up or down from last closing price. If Extreme Networks takes out the full calculated possible swing range there will be an estimated 7.03% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $10.70 (0.28%) than the resistance at $11.13 (3.73%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Extreme Networks stock A Buy?
Extreme Networks holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.840 Hold/Accumulate Upgraded
Predicted Opening Price for Extreme Networks of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $10.83 ( 0.90%) | $10.73 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EXTR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.18 | 4.16 % | |
| R2 | 11.04 | 2.92 % | ||
| R1 | 10.96 | 2.15 % | ||
| Current price: | 10.73 | |||
| Support | S1 | 10.69 | -0.345 % | |
| S2 | 10.61 | -1.11 % | ||
| S3 | 10.48 | -2.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.22 | 23.21 % | |
| R2 | 12.59 | 17.33 % | ||
| R1 | 11.13 | 3.73 % | ||
| Current price | 10.73 | |||
| Support | S1 | 10.70 | -0.280% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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