Leafly Holdings, Inc. Stock Forecast
Evaluation of Leafly Holdings, Inc. stock downgraded after the last trading session.
(Updated on May 06, 2024)
The Leafly Holdings, Inc. stock price gained 4.91% on the last trading day (Monday, 6th May 2024), rising from $2.85 to $2.99. During the last trading day the stock fluctuated 9.57% from a day low at $2.82 to a day high of $3.09. The price has fallen in 6 of the last 10 days but is still up by 36.53% over the past 2 weeks. Volume fell on the last day by -35 thousand shares and in total, 28 thousand shares were bought and sold for approximately $82.58 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 the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $3.12 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -22.75% during the next 3 months and, with a 90% probability hold a price between $1.43 and $2.41 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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LFLY Signals & Forecast
The Leafly Holdings, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $2.74 and $2.75. 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). 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 Tuesday, April 30, 2024, and so far it has fallen -5.97%. Further fall is indicated until a new bottom pivot has been found. 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Leafly Holdings, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $2.84 and $2.51. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Leafly Holdings, Inc. finds support just below today's level at $2.84. If this is broken, then the next support from accumulated volume will be at $2.51 and $2.42.
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 $0.270 between high and low, or 9.57%. For the last week the stock has had daily average volatility of 21.64%.
Our recommended stop-loss: $2.84 (-4.97%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (LFLY) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Leafly Holdings, Inc. to open at $2.97, and during the day (based on 14 day Average True Range), to move between $2.61 and $3.37, which gives a possible trading interval of +/-$0.377 (+/-12.62%) up or down from last closing price. If Leafly Holdings, Inc. takes out the full calculated possible swing range there will be an estimated 25.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.84 (5.02%) than the resistance at $3.18 (6.35%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Leafly Holdings, Inc. will release earnings AMC on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is -$2.05. We will update the financials statements for Leafly Holdings, Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.79% in the first trading day after earnings release.
Is Leafly Holdings, Inc. stock A Buy?
Leafly Holdings, Inc. 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: 0.239 Hold/Accumulate Downgraded
Predicted Opening Price for Leafly Holdings, Inc. of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $2.97 ( 0.779%) | $2.99 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LFLY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.24 | 8.25 % | |
| R2 | 3.13 | 4.80 % | ||
| R1 | 3.07 | 2.67 % | ||
| Current price: | 2.99 | |||
| Support | S1 | 2.86 | -4.23 % | |
| S2 | 2.80 | -6.36 % | ||
| S3 | 2.70 | -9.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.65 | 22.07 % | |
| R2 | 3.43 | 14.72 % | ||
| R1 | 3.18 | 6.35 % | ||
| Current price | 2.99 | |||
| Support | S1 | 2.84 | -5.02% | |
| S2 | 2.51 | -16.05% | ||
| S3 | 2.42 | -19.06% |
FAQ
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