Owlet, Inc. Stock Forecast
Evaluation of Owlet, Inc. stock downgraded after the last trading session.
(Updated on May 03, 2024)
The Owlet, Inc. stock price fell by -1.18% on the last day (Friday, 3rd May 2024) from $4.25 to $4.20. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 2.41% from a day low at $4.13 to a day high of $4.23. The price has fallen in 5 of the last 10 days but is still up by 8.81% over the past 2 weeks. Volume has increased on the last day by 559 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, 7 thousand shares were bought and sold for approximately $27.51 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 -19.74% during the next 3 months and, with a 90% probability hold a price between $2.47 and $4.15 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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OWLT Signals & Forecast
The Owlet, Inc. 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 $4.24. On a fall, the stock will find some support from the long-term average at approximately $4.09. 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. 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 -4.55%. Further fall is indicated until a new bottom pivot has been found. Owlet, 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". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Owlet, Inc. stock
Owlet, Inc. finds support from accumulated volume at $4.17 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 $0.0994 between high and low, or 2.41%. For the last week, the stock has had daily average volatility of 4.97%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OWLT) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Owlet, Inc. to open at $4.18, and during the day (based on 14 day Average True Range), to move between $3.91 and $4.49, which gives a possible trading interval of +/-$0.290 (+/-6.91%) up or down from last closing price. If Owlet, Inc. takes out the full calculated possible swing range there will be an estimated 13.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $4.17 (0.71%) than the resistance at $4.33 (3.10%), 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
Owlet, Inc. will release earnings AMC on Monday, May 06, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.140. We will update the financials statements for Owlet, Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 13.67% in the first trading day after earnings release.
Is Owlet, Inc. stock A Buy?
Owlet, Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. 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 Sell candidate.
Current score: -1.038 Sell Candidate Downgraded
Predicted Opening Price for Owlet, Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $4.18 ( 0.360%) | $4.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OWLT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.28 | 2.01 % | |
| R2 | 4.25 | 1.10 % | ||
| R1 | 4.22 | 0.544 % | ||
| Current price: | 4.20 | |||
| Support | S1 | 4.15 | -1.26 % | |
| S2 | 4.12 | -1.82 % | ||
| S3 | 4.09 | -2.73 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.54 | 8.10 % | |
| R2 | 4.45 | 5.95 % | ||
| R1 | 4.33 | 3.10 % | ||
| Current price | 4.20 | |||
| Support | S1 | 4.17 | -0.714% | |
| S2 | 3.85 | -8.33% | ||
| S3 | 3.35 | -20.24% |
FAQ
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