FiscalNote Holdings, Inc. Stock Forecast
Big movements in FiscalNote Holdings, Inc. stock price on Friday moving 13.39% between high and low
(Updated on Jun 14, 2024)
The FiscalNote Holdings, Inc. stock price gained 6.92% on the last trading day (Friday, 14th Jun 2024), rising from $1.30 to $1.39. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 13.39% from a day low at $1.27 to a day high of $1.44. The price has fallen in 5 of the last 10 days but is still up by 8.59% over the past 2 weeks. Volume fell on the last day by -52 thousand shares and in total, 580 thousand shares were bought and sold for approximately $806.21 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 middle of a very wide and weak 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 2.95% during the next 3 months and, with a 90% probability hold a price between $1.16 and $1.60 at the end of this 3-month period.
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NOTE Signals & Forecast
The FiscalNote 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 $1.21 and $1.34. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 10, 2024, and so far it has risen 24.11%. 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. 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 FiscalNote Holdings, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.29 and $1.27. 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, FiscalNote Holdings, Inc. finds support just below today's level at $1.29. If this is broken, then the next support from accumulated volume will be at $1.27 and $1.14.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.170 between high and low, or 13.39%. For the last week the stock has had daily average volatility of 9.10%.
Our recommended stop-loss: $1.34 (-3.56%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 15 days ago.)
Trading Expectations (NOTE) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect FiscalNote Holdings, Inc. to open at $1.37, and during the day (based on 14 day Average True Range), to move between $1.28 and $1.50, which gives a possible trading interval of +/-$0.105 (+/-7.57%) up or down from last closing price. If FiscalNote Holdings, Inc. takes out the full calculated possible swing range there will be an estimated 15.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.48 (6.47%) than the support at $1.29 (7.19%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is FiscalNote Holdings, Inc. stock A Buy?
FiscalNote 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: 0.754 Hold/Accumulate Downgraded
Predicted Opening Price for FiscalNote Holdings, Inc. of Monday, June 17, 2024
Fair opening price June 17, 2024 | Current price |
---|---|
$1.37 ( 1.68%) | $1.39 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NOTE
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 1.54 | 10.55% |
R2 | 1.47 | 5.88% |
R1 | 1.43 | 2.99% |
Price | 1.39 | |
S1 | 1.30 | -6.35% |
S2 | 1.26 | -9.24% |
S3 | 1.20 | -13.91% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 1.52 | 9.35% |
R2 | 1.49 | 7.19% |
R1 | 1.48 | 6.47% |
Price | 1.39 | |
S1 | 1.29 | -7.19% |
S2 | 1.27 | -8.63% |
S3 | 1.14 | -17.99% |
FAQ
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