Phunware Inc. Stock Forecast
Volatile ride for Phunware Inc. stock price on Thursday moving between $5.95 and $7.09
(Updated on Apr 18, 2024)
The Phunware Inc. stock price gained 14.00% on the last trading day (Thursday, 18th Apr 2024), rising from $6.00 to $6.84. During the last trading day the stock fluctuated 19.16% from a day low at $5.95 to a day high of $7.09. The price has fallen in 7 of the last 10 days and is down by -12.53% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 462 thousand more shares were traded than the day before. In total, 876 thousand shares were bought and sold for approximately $5.99 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $6.18 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 121.27% during the next 3 months and, with a 90% probability hold a price between $13.67 and $44.87 at the end of this 3-month period.
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PHUN Signals & Forecast
Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Phunware Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $6.88 and $9.00. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 05, 2024, and so far it has fallen -53.53%. 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).
Support, Risk & Stop-loss for Phunware Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $6.47 and $6.38. 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, Phunware Inc. finds support just below today's level at $6.47. If this is broken, then the next support from accumulated volume will be at $6.38 and $6.00.
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 $1.14 between high and low, or 19.16%. For the last week, the stock has had daily average volatility of 11.41%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PHUN) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Phunware Inc. to open at $6.63, and during the day (based on 14 day Average True Range), to move between $5.93 and $7.75, which gives a possible trading interval of +/-$0.91 (+/-13.26%) up or down from last closing price. If Phunware Inc. takes out the full calculated possible swing range there will be an estimated 26.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.04 (2.92%) than the support at $6.47 (5.41%), 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 Phunware Inc. stock A Buy?
The Phunware Inc. stock holds several negative signals and despite the positive trend, we believe Phunware Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.723 Sell Candidate Unchanged
Predicted Opening Price for Phunware Inc. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $6.63 ( 3.12%) | $6.84 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PHUN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.77 | 13.55 % | |
| R2 | 7.33 | 7.18 % | ||
| R1 | 7.06 | 3.25 % | ||
| Current price: | 6.84 | |||
| Support | S1 | 6.19 | -9.49 % | |
| S2 | 5.92 | -13.42 % | ||
| S3 | 5.49 | -19.79 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.29 | 21.20 % | |
| R2 | 7.08 | 3.51 % | ||
| R1 | 7.04 | 2.92 % | ||
| Current price | 6.84 | |||
| Support | S1 | 6.47 | -5.41% | |
| S2 | 6.38 | -6.73% | ||
| S3 | 6.00 | -12.28% |
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