Selectquote Inc Stock Forecast
Red day on Monday for Selectquote Inc stock after losing 3.51%
(Updated on Apr 15, 2024)
The Selectquote Inc stock price fell by -3.51% on the last day (Monday, 15th Apr 2024) from $1.71 to $1.65. During the last trading day the stock fluctuated 7.86% from a day low at $1.62 to a day high of $1.75. The price has fallen in 5 of the last 10 days and is down by -17.5% for this period. Volume has increased on the last day by 46 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, 439 thousand shares were bought and sold for approximately $724.29 thousand.
Given the current short-term trend, the stock is expected to rise 60.02% during the next 3 months and, with a 90% probability hold a price between $2.64 and $3.93 at the end of this 3-month period.
SLQT 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 Selectquote Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $1.83 and $1.82. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 01, 2024, and so far it has fallen -17.91%. Further fall is indicated until a new bottom pivot has been found. Selectquote 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 Selectquote Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.56 and $1.49. 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, Selectquote Inc finds support just below today's level at $1.56. If this is broken, then the next support from accumulated volume will be at $1.49 and $1.43.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.128 between high and low, or 7.86%. For the last week, the stock has had daily average volatility of 6.95%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SLQT) For The Upcoming Trading Day Of Tuesday 16th
For the upcoming trading day on Tuesday, 16th we expect Selectquote Inc to open at $1.67, and during the day (based on 14 day Average True Range), to move between $1.51 and $1.79, which gives a possible trading interval of +/-$0.136 (+/-8.22%) up or down from last closing price. If Selectquote Inc takes out the full calculated possible swing range there will be an estimated 16.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.56 (5.45%) than the resistance at $1.74 (5.45%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Selectquote Inc stock A Buy?
The Selectquote Inc stock holds several negative signals and despite the positive trend, we believe Selectquote Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.010 Sell Candidate Unchanged
Predicted Opening Price for Selectquote Inc of Tuesday, April 16, 2024
| Fair opening price April 16, 2024 | Current price |
|---|---|
| $1.67 ( 1.46%) | $1.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SLQT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.80 | 9.19 % | |
| R2 | 1.75 | 6.24 % | ||
| R1 | 1.72 | 4.42 % | ||
| Current price: | 1.65 | |||
| Support | S1 | 1.63 | -1.49 % | |
| S2 | 1.60 | -3.31 % | ||
| S3 | 1.55 | -6.26 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.00 | 21.21 % | |
| R2 | 1.82 | 10.30 % | ||
| R1 | 1.74 | 5.45 % | ||
| Current price | 1.65 | |||
| Support | S1 | 1.56 | -5.45% | |
| S2 | 1.49 | -9.70% | ||
| S3 | 1.43 | -13.33% |
FAQ
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