Socket Mobile, Inc Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Socket Mobile, Inc stock upgraded to Buy Candidate.
(Updated on May 03, 2024)
The Socket Mobile, Inc stock price gained 0.94% on the last trading day (Friday, 3rd May 2024), rising from $1.08 to $1.09. During the last trading day the stock fluctuated 2.80% from a day low at $1.07 to a day high of $1.10. The price has risen in 7 of the last 10 days and is up by 5.83% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 thousand more shares were traded than the day before. In total, 9 thousand shares were bought and sold for approximately $9.85 thousand.
The stock has broken the wide and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $1.09 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $1.20 sometime during the next 3 months.
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SCKT Signals & Forecast
The Socket Mobile, Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $1.06 and $1.05. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 7.91%. Further rise is indicated until a new top pivot has been found. Socket Mobile, Inc has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. 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).
Support, Risk & Stop-loss for Socket Mobile, Inc stock
Socket Mobile, Inc finds support from accumulated volume at $1.07 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.0300 (2.80%) between high and low. For the last week, the stock has had daily average volatility of 3.60%.
Our recommended stop-loss: $1.05 (-3.86%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (SCKT) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Socket Mobile, Inc to open at $1.09, and during the day (based on 14 day Average True Range), to move between $1.04 and $1.14, which gives a possible trading interval of +/-$0.0468 (+/-4.29%) up or down from last closing price. If Socket Mobile, Inc takes out the full calculated possible swing range there will be an estimated 8.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.10 (0.46%) than the support at $1.07 (1.83%), 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 Socket Mobile, Inc stock A Buy?
Several short-term signals are positive and the stock has broken the horizontal trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Socket Mobile, Inc stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.720 Buy Candidate Upgraded
Predicted Opening Price for Socket Mobile, Inc of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $1.09 ( 0.306%) | $1.09 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SCKT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.12 | 2.45 % | |
| R2 | 1.11 | 1.40 % | ||
| R1 | 1.10 | 0.746 % | ||
| Current price: | 1.09 | |||
| Support | S1 | 1.08 | -1.36 % | |
| S2 | 1.07 | -2.01 % | ||
| S3 | 1.06 | -3.06 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.11 | 2.20 % | |
| R2 | 1.10 | 0.92 % | ||
| R1 | 1.10 | 0.459 % | ||
| Current price | 1.09 | |||
| Support | S1 | 1.07 | -1.83% | |
| S2 | 1.04 | -4.59% | ||
| S3 | 1.02 | -6.42% |
FAQ
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