Sharecare, Inc. Stock Forecast
Sharecare, Inc. stock downgraded from Sell Candidate to Strong Sell Candidate after Friday trading session.
(Updated on May 03, 2024)
The Sharecare, Inc. stock price gained 0.296% on the last trading day (Friday, 3rd May 2024), rising from $0.742 to $0.745. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 9.25% from a day low at $0.710 to a day high of $0.776. The price has risen in 7 of the last 10 days and is up by 13.66% over the past 2 weeks. Volume fell on the last day by -1 million shares and in total, 720 thousand shares were bought and sold for approximately $535.81 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies the upper part of a very 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 $0.775 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 -35.94% during the next 3 months and, with a 90% probability hold a price between $0.245 and $0.496 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
SHCR 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 Sharecare, 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 $0.747 and $0.769. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 26, 2024, and so far it has fallen -8.09%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Sharecare, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.670 and $0.655. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Sharecare, Inc. finds support just below today's level at $0.670. If this is broken, then the next support from accumulated volume will be at $0.655 and $0.638.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0657 between high and low, or 9.25%. For the last week the stock has had daily average volatility of 10.41%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SHCR) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Sharecare, Inc. to open at $0.743, and during the day (based on 14 day Average True Range), to move between $0.664 and $0.82, which gives a possible trading interval of +/-$0.0802 (+/-10.77%) up or down from last closing price. If Sharecare, Inc. takes out the full calculated possible swing range there will be an estimated 21.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.768 (3.09%) than the support at $0.670 (9.99%), 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.
Earnings coming up
Sharecare, Inc. will release earnings AMC on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.0400. We will update the financials statements for Sharecare, Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 13.93% in the first trading day after earnings release.
Is Sharecare, Inc. stock A Buy?
Sharecare, Inc. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.555 Strong Sell Candidate Downgraded
Predicted Opening Price for Sharecare, Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.743 ( 0.148%) | $0.745 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SHCR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.81 | 8.68 % | |
| R2 | 0.784 | 5.31 % | ||
| R1 | 0.768 | 3.22 % | ||
| Current price: | 0.745 | |||
| Support | S1 | 0.718 | -3.52 % | |
| S2 | 0.703 | -5.60 % | ||
| S3 | 0.678 | -8.97 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.93 | 25.00 % | |
| R2 | 0.90 | 20.55 % | ||
| R1 | 0.768 | 3.09 % | ||
| Current price | 0.745 | |||
| Support | S1 | 0.670 | -9.99% | |
| S2 | 0.655 | -12.02% | ||
| S3 | 0.638 | -14.36% |
FAQ
Click here for our free guide on how to buy Sharecare, Inc. Stock.
