Soho House & Co Inc. Stock Forecast
Evaluation of Soho House & Co Inc. stock downgraded after the last trading session.
(Updated on Jul 03, 2024)
The Soho House & Co Inc. stock price gained 4.03% on the last trading day (Wednesday, 3rd Jul 2024), rising from $5.46 to $5.68. During the last trading day the stock fluctuated 6.83% from a day low at $5.51 to a day high of $5.89. The price has risen in 7 of the last 10 days and is up by 5.38% 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, 8 thousand more shares were traded than the day before. In total, 179 thousand shares were bought and sold for approximately $1.02 million.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $5.69 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -5.53% during the next 3 months and, with a 90% probability hold a price between $4.65 and $5.37 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SHCO Signals & Forecast
The Soho House & Co 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 $5.36 and $5.27. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 10, 2024, and so far it has risen 13.37%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Soho House & Co 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. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Soho House & Co Inc. stock
Soho House & Co Inc. finds support from accumulated volume at $5.67 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 $0.377 between high and low, or 6.83%. For the last week, the stock has had daily average volatility of 4.61%.
Our recommended stop-loss: $5.47 (-3.76%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 34 days ago.)
Trading Expectations (SHCO) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect Soho House & Co Inc. to open at $5.69, and during the day (based on 14 day Average True Range), to move between $5.42 and $5.94, which gives a possible trading interval of +/-$0.262 (+/-4.62%) up or down from last closing price. If Soho House & Co Inc. takes out the full calculated possible swing range there will be an estimated 9.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.67 (0.18%) than the resistance at $5.75 (1.23%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Soho House & Co Inc. stock A Buy?
Soho House & Co 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: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Soho House & Co Inc. of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| $5.69 ( 0.255%) | $5.68 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SHCO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.07 | 6.88% |
| R2 | 5.93 | 4.35% |
| R1 | 5.84 | 2.79% |
| Price | 5.68 | |
| S1 | 5.55 | -2.28% |
| S2 | 5.46 | -3.84% |
| S3 | 5.32 | -6.37% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.87 | 3.35% |
| R2 | 5.82 | 2.46% |
| R1 | 5.75 | 1.23% |
| Price | 5.68 | |
| S1 | 5.67 | -0.176% |
| S2 | 5.31 | -6.51% |
| S3 | 5.05 | -11.09% |
FAQ
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