Sight Sciences, Inc. Stock Forecast
Sight Sciences, Inc. stock downgraded from Buy Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Apr 18, 2024)
The Sight Sciences, Inc. stock price fell by -2.60% on the last day (Thursday, 18th Apr 2024) from $5.38 to $5.24. During the last trading day the stock fluctuated 3.85% from a day low at $5.20 to a day high of $5.40. The price has fallen in 7 of the last 10 days and is down by -6.09% for this period. Volume has increased on the last day by 69 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, 159 thousand shares were bought and sold for approximately $830.85 thousand.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 19.39% during the next 3 months and, with a 90% probability hold a price between $5.54 and $8.37 at the end of this 3-month period.
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SGHT Signals & Forecast
The Sight Sciences, 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 $5.60. On a fall, the stock will find some support from the long-term average at approximately $5.05. 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. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.191%. Further rise is indicated until a new top pivot has been found. 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). Sight Sciences, 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".
Support, Risk & Stop-loss for Sight Sciences, Inc. stock
Sight Sciences, Inc. finds support from accumulated volume at $5.23 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 $0.200 between high and low, or 3.85%. For the last week, the stock has had daily average volatility of 6.05%.
Our recommended stop-loss: $4.98 (-4.95%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (SGHT) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Sight Sciences, Inc. to open at $5.28, and during the day (based on 14 day Average True Range), to move between $4.87 and $5.61, which gives a possible trading interval of +/-$0.372 (+/-7.10%) up or down from last closing price. If Sight Sciences, Inc. takes out the full calculated possible swing range there will be an estimated 14.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.23 (0.19%) than the resistance at $5.32 (1.53%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sight Sciences, Inc. stock A Buy?
Sight Sciences, Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. 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 Hold/Accumulate candidate.
Current score: 0.687 Hold/Accumulate Downgraded
Predicted Opening Price for Sight Sciences, Inc. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $5.28 ( 0.763%) | $5.24 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SGHT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.48 | 4.58 % | |
| R2 | 5.40 | 3.12 % | ||
| R1 | 5.36 | 2.22 % | ||
| Current price: | 5.24 | |||
| Support | S1 | 5.20 | -0.695 % | |
| S2 | 5.16 | -1.60 % | ||
| S3 | 5.08 | -3.05 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.07 | 15.84 % | |
| R2 | 5.89 | 12.40 % | ||
| R1 | 5.32 | 1.53 % | ||
| Current price | 5.24 | |||
| Support | S1 | 5.23 | -0.191% | |
| S2 | 4.72 | -9.92% | ||
| S3 | 4.24 | -19.08% |
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