Satellogic Inc. Stock Forecast
Is Satellogic Inc. stock still a buy after falling -11.41% on Wednesday?
(Updated on Apr 17, 2024)
The Satellogic Inc. stock price fell by -11.41% on the last day (Wednesday, 17th Apr 2024) from $1.49 to $1.32. During the last trading day the stock fluctuated 9.92% from a day low at $1.31 to a day high of $1.44. The price has fallen in 6 of the last 10 days and is down by -14.84% for this period. Volume has increased on the last day by 55 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, 72 thousand shares were bought and sold for approximately $95.65 thousand.
Given the current short-term trend, the stock is expected to rise 13.22% during the next 3 months and, with a 90% probability hold a price between $1.49 and $2.63 at the end of this 3-month period.
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SATL Signals & Forecast
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. The Satellogic 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 $1.47 and $1.69. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 06, 2024, and so far it has fallen -40.00%. Further fall is indicated until a new bottom pivot has been found. Satellogic 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 Satellogic Inc. stock
Satellogic Inc. finds support from accumulated volume at $1.29 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.130 between high and low, or 9.92%. For the last week, the stock has had daily average volatility of 7.85%.
Satellogic Inc. is oversold on RSI14 (19). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SATL) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Satellogic Inc. to open at $1.36, and during the day (based on 14 day Average True Range), to move between $1.18 and $1.46, which gives a possible trading interval of +/-$0.136 (+/-10.29%) up or down from last closing price. If Satellogic Inc. takes out the full calculated possible swing range there will be an estimated 20.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.29 (2.27%) than the resistance at $1.48 (12.12%), 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
Satellogic Inc. will release earnings BMO on Thursday, April 25, 2024. We will update the financials statements for Satellogic Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 0.567% in the first trading day after earnings release.
Is Satellogic Inc. stock A Buy?
The Satellogic Inc. stock holds several negative signals and despite the positive trend, we believe Satellogic Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.299 Sell Candidate Unchanged
Predicted Opening Price for Satellogic Inc. of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $1.36 ( 2.78%) | $1.32 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SATL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.49 | 12.63 % | |
| R2 | 1.44 | 8.86 % | ||
| R1 | 1.41 | 6.54 % | ||
| Current price: | 1.32 | |||
| Support | S1 | 1.31 | -0.98 % | |
| S2 | 1.28 | -3.31 % | ||
| S3 | 1.23 | -7.07 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.51 | 14.39 % | |
| R2 | 1.49 | 12.88 % | ||
| R1 | 1.48 | 12.12 % | ||
| Current price | 1.32 | |||
| Support | S1 | 1.29 | -2.27% | |
| S2 | 1.27 | -3.79% | ||
| S3 | 0 | . |
FAQ
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