Smart for Life, Inc. Stock Forecast
Volatile ride for Smart for Life, Inc. stock price on Friday moving between $0.421 and $0.530
(Updated on Apr 19, 2024)
The Smart for Life, Inc. stock price gained 4.00% on the last trading day (Friday, 19th Apr 2024), rising from $0.463 to $0.481. During the last trading day the stock fluctuated 25.84% from a day low at $0.421 to a day high of $0.530. The price has fallen in 7 of the last 10 days and is down by -3.61% for this period. Volume fell on the last day by -3 million shares and in total, 3 million shares were bought and sold for approximately $1.42 million. 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 in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -50.59% during the next 3 months and, with a 90% probability hold a price between $0.0914 and $0.407 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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SMFL Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 18.39%. 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. The Smart for Life, Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.706. On a fall, the stock will find some support from the short-term average at $0.462. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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 Smart for Life, Inc. stock
Smart for Life, Inc. finds support from accumulated volume at $0.475 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.109 between high and low, or 25.84%. For the last week the stock has had daily average volatility of 24.19%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SMFL) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Smart for Life, Inc. to open at $0.477, and during the day (based on 14 day Average True Range), to move between $0.349 and $0.613, which gives a possible trading interval of +/-$0.132 (+/-27.36%) up or down from last closing price. If Smart for Life, Inc. takes out the full calculated possible swing range there will be an estimated 54.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.485 (0.83%) than the support at $0.475 (1.25%), 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.
Is Smart for Life, Inc. stock A Buy?
Smart for Life, Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -3.500 Sell Candidate Unchanged
Predicted Opening Price for Smart for Life, Inc. of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $0.477 ( 0.762%) | $0.481 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SMFL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.586 | 21.86 % | |
| R2 | 0.545 | 13.22 % | ||
| R1 | 0.519 | 7.88 % | ||
| Current price: | 0.481 | |||
| Support | S1 | 0.436 | -9.40 % | |
| S2 | 0.410 | -14.74 % | ||
| S3 | 0.369 | -23.38 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.595 | 23.70 % | |
| R2 | 0.515 | 7.07 % | ||
| R1 | 0.485 | 0.83 % | ||
| Current price | 0.481 | |||
| Support | S1 | 0.475 | -1.25% | |
| S2 | 0.463 | -3.85% | ||
| S3 | 0.410 | -14.76% |
FAQ
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