Leafly Holdings, Inc. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Volatile ride for Leafly Holdings, Inc. stock price on Friday moving between $2.81 and $3.17
(Updated on May 03, 2024)
The Leafly Holdings, Inc. stock price fell by -4.68% on the last day (Friday, 3rd May 2024) from $2.99 to $2.85. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 12.81% from a day low at $2.81 to a day high of $3.17. The price has fallen in 6 of the last 10 days but is still up by 31.34% over the past 2 weeks. Volume has increased on the last day by 23 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, 63 thousand shares were bought and sold for approximately $179.11 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -25.09% during the next 3 months and, with a 90% probability hold a price between $1.20 and $2.44 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 $2.59 and $2.73. 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 -10.38%. Further fall is indicated until a new bottom pivot has been found. Leafly Holdings, Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Leafly Holdings, Inc. stock
Leafly Holdings, Inc. finds support from accumulated volume at $2.84 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 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 $0.360 between high and low, or 12.81%. For the last week, the stock has had daily average volatility of 22.18%.
Our recommended stop-loss: $2.72 (-4.70%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (LFLY) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Leafly Holdings, Inc. to open at $2.94, and during the day (based on 14 day Average True Range), to move between $2.46 and $3.24, which gives a possible trading interval of +/-$0.386 (+/-13.54%) up or down from last closing price. If Leafly Holdings, Inc. takes out the full calculated possible swing range there will be an estimated 27.09% 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 (0.35%) than the resistance at $3.18 (11.58%), 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?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.338 Buy Candidate Upgraded
Predicted Opening Price for Leafly Holdings, Inc. of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
$2.94 ( 3.27%) | $2.85 |
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 | 3.30 | 15.91 % | |
R2 | 3.17 | 11.08 % | ||
R1 | 3.08 | 8.10 % | ||
Current price: | 2.85 | |||
Support | S1 | 2.81 | -1.55 % | |
S2 | 2.72 | -4.53 % | ||
S3 | 2.58 | -9.36 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.43 | 20.35 % | |
R2 | 3.24 | 13.68 % | ||
R1 | 3.18 | 11.58 % | ||
Current price | 2.85 | |||
Support | S1 | 2.84 | -0.354% | |
S2 | 2.51 | -11.93% | ||
S3 | 2.42 | -15.09% |
FAQ
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