Extreme Networks stock downgraded to Hold/Accumulate
(Updated on Dec 03, 2021)
Buy or Hold candidate since 2021-11-03 Gain 10.82% PDF
The Extreme Networks stock price fell by -2.00% on the last day (Friday, 3rd Dec 2021) from $13.48 to $13.21. During the day the stock fluctuated 5.04% from a day low at $13.10 to a day high of $13.76. The price has risen in 6 of the last 10 days and is up by 0.53% over the past 2 weeks. 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 -677 thousand shares and in total, 1 million shares were bought and sold for approximately $14.38 million.
The stock lies in the middle of a 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 37.93% during the next 3 months and, with a 90% probability hold a price between $15.49 and $19.24 at the end of this 3-month period.
Signals & Forecast
The Extreme Networks stock holds a sell signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $13.29. On a fall, the stock will find some support from the long-term average at approximately $11.63. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell 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 Wednesday, November 24, 2021, and so far it has fallen -2.72%. 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
Extreme Networks finds support from accumulated volume at $13.14 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 $0.66 between high and low, or 5.04%. For the last week, the stock has had a daily average volatility of 5.84%.
Our recommended stop-loss: $12.62 (-4.46%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 6 days ago.)
Is Extreme Networks stock A Buy?
Extreme Networks holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.614
Predicted Opening Price for Extreme Networks of Monday, December 6, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price December 6, 2021||Current price|
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On Nov 18, 2021 "Needham & Company LLC" gave "$15.00 - $16.00" rating for EXTR. The price target was changed from $12.90 to 0.8%.
EXTR Insider Trading
|Dec 01, 2021||Sell||35 805||Meyercord Edward||Non-Qualified Stock Option (right to buy)|
|Dec 01, 2021||Sell||25 000||Meyercord Edward||Non-Qualified Stock Option (right to buy)|
|Dec 01, 2021||Sell||22 285||Meyercord Edward||Restricted Stock Units|
|Dec 01, 2021||Sell||35 805||Meyercord Edward||Common Stock|
|Dec 01, 2021||Buy||35 805||Meyercord Edward||Common Stock|
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