Smartsheet Inc. Stock Forecast

Buy candidate since Dec 30, 2024 Gain 0.80%

The Smartsheet Inc. stock price gained 0.0177% on the last trading day (Tuesday, 21st Jan 2025), rising from $56.46 to $56.47. During the last trading day the stock fluctuated 0.0443% from a day low at $56.47 to a day high of $56.50. The price has been going up and down for this period, and there has been a 0.48% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 7 million more shares were traded than the day before. In total, 17 million shares were bought and sold for approximately $946.06 million.

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 Smartsheet Inc. stock with a 90% probability to be traded between $56.08 and $56.80 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 stock seldom manage to go directly from the bottom of a trend up to the top. Stock turning up in the middle of a horizontal trend are therefore considered to be potential runners.

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SMAR Signals & Forecast

Mostly positive signals in the chart today. The Smartsheet 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 $56.37 and $56.11. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, November 05, 2024, and so far it has risen 1.18%. 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). Volume is rising along with the price. This is considered to be a good technical signal. The stock had a Golden Star Signal on Friday, December 20, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Smartsheet Inc. stock

Smartsheet Inc. finds support from accumulated volume at $56.46 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0250 between high and low, or 0.0443%. For the last week the stock has had daily average volatility of 0.103%.

Our recommended stop-loss: $53.83 (-4.67%) (This stock has very low daily movements and this gives very low risk. The RSI14 is 81 and this increases the risk substantially. There is a buy signal from a pivot bottom found 50 days ago.)

Trading Expectations (SMAR) For The Upcoming Trading Day Of Wednesday 22nd

For the upcoming trading day on Wednesday, 22nd we expect Smartsheet Inc. to open at $56.48, and during the day (based on 14 day Average True Range), to move between $56.35 and $56.59, which gives a possible trading interval of +/-$0.118 (+/-0.21%) up or down from last closing price. If Smartsheet Inc. takes out the full calculated possible swing range there will be an estimated 0.42% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $56.46 (0.02%) than the resistance at $56.51 (0.07%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Smartsheet Inc. 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 Smartsheet Inc. stock to perform well in the short-term period.

Current score: 4.092 Buy Candidate Unchanged

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Predicted Fair Opening Price

Predicted fair opening price on January 22, 2025 - $56.48 ( 0.0148%).