Slam Corp. Stock Forecast
Green day on Tuesday for Slam Corp.
(Updated on Jun 25, 2024)
The Slam Corp. stock price gained 0.0900% on the last trading day (Tuesday, 25th Jun 2024), rising from $11.11 to $11.12. During the last trading day the stock fluctuated 0.0899% from a day low at $11.12 to a day high of $11.13. The price has risen in 5 of the last 10 days and is up by 0.45% over the past 2 weeks. Volume fell on the last day by -11 thousand shares and in total, 268 shares were bought and sold for approximately $2.98 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 is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Slam Corp. stock with a 90% probability to be traded between $11.16 and $11.29 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SLAM Signals & Forecast
The Slam Corp. 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 $11.11 and $11.07. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 02, 2024, and so far it has risen 1.09%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Slam Corp. stock
Slam Corp. finds support from accumulated volume at $11.11 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.0100 between high and low, or 0.0899%. For the last week the stock has had daily average volatility of 0.0902%
Our recommended stop-loss: $10.39 (-6.52%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 46 days ago.)
Trading Expectations (SLAM) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Slam Corp. to open at $11.12, and during the day (based on 14 day Average True Range), to move between $11.10 and $11.14, which gives a possible trading interval of +/-$0.0175 (+/-0.16%) up or down from last closing price. If Slam Corp. takes out the full calculated possible swing range there will be an estimated 0.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $11.11 (0.09%) than the resistance at $11.13 (0.09%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Slam Corp. stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Slam Corp. stock to perform well in the short-term period.
Current score: 3.346 Buy Candidate Unchanged
Predicted Opening Price for Slam Corp. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $11.12 ( 0.0300%) | $11.12 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SLAM
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.13 | 0.120% |
| R2 | 11.13 | 0.0856% |
| R1 | 11.13 | 0.0643% |
| Price | 11.12 | |
| S1 | 11.12 | -0.0044% |
| S2 | 11.12 | -0.0256% |
| S3 | 11.11 | -0.0600% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 11.13 | 0.0899% |
| Price | 11.12 | |
| S1 | 11.11 | -0.0899% |
| S2 | 11.05 | -0.629% |
| S3 | 11.04 | -0.719% |
FAQ
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