Phunware Inc. Stock Forecast
Green day on Friday for Phunware Inc.
(Updated on Apr 26, 2024)
The Phunware Inc. stock price gained 3.91% on the last trading day (Friday, 26th Apr 2024), rising from $6.14 to $6.38. During the last trading day the stock fluctuated 8.78% from a day low at $6.15 to a day high of $6.69. The price has fallen in 7 of the last 10 days and is down by -12.24% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 112 thousand more shares were traded than the day before. In total, 524 thousand shares were bought and sold for approximately $3.34 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 $6.03 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 74.51% during the next 3 months and, with a 90% probability hold a price between $10.52 and $34.47 at the end of this 3-month period.
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PHUN Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $8.28. On a fall, the stock will find some support from the short-term average at $6.33. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Tuesday, March 05, 2024, and so far it has fallen -56.66%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Phunware Inc. stock
Phunware Inc. finds support from accumulated volume at $6.30 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 $0.540 between high and low, or 8.78%. For the last week, the stock has had daily average volatility of 8.00%.
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 Monday 29th
For the upcoming trading day on Monday, 29th we expect Phunware Inc. to open at $6.41, and during the day (based on 14 day Average True Range), to move between $5.61 and $7.15, which gives a possible trading interval of +/-$0.768 (+/-12.04%) up or down from last closing price. If Phunware Inc. takes out the full calculated possible swing range there will be an estimated 24.08% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $6.30 (1.25%) than the resistance at $6.84 (7.21%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Phunware Inc. stock A Buy?
Phunware 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.
Current score: -1.233 Sell Candidate Unchanged
Predicted Opening Price for Phunware Inc. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $6.41 ( 0.418%) | $6.38 |
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 | 6.95 | 8.88 % | |
| R2 | 6.74 | 5.65 % | ||
| R1 | 6.61 | 3.65 % | ||
| Current price: | 6.38 | |||
| Support | S1 | 6.20 | -2.82 % | |
| S2 | 6.07 | -4.81 % | ||
| S3 | 5.87 | -8.05 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.08 | 10.97 % | |
| R2 | 7.04 | 10.34 % | ||
| R1 | 6.84 | 7.21 % | ||
| Current price | 6.38 | |||
| Support | S1 | 6.30 | -1.25% | |
| S2 | 6.28 | -1.57% | ||
| S3 | 6.00 | -5.96% |
FAQ
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