Smart for Life, Inc. Stock Forecast
High volatility in Smart for Life, Inc. stock price on Tuesday which ended trading at $2.80
(Updated on Jul 02, 2024)
The Smart for Life, Inc. stock price gained 2.56% on the last trading day (Tuesday, 2nd Jul 2024), rising from $2.73 to $2.80. During the last trading day the stock fluctuated 10.77% from a day low at $2.60 to a day high of $2.88. The price has fallen in 6 of the last 10 days and is down by -25.33% for this period. Volume fell on the last day by -81 thousand shares and in total, 221 thousand shares were bought and sold for approximately $618.53 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 in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $2.27 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 48.83% during the next 3 months and, with a 90% probability hold a price between $3.38 and $10.06 at the end of this 3-month period.
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SMFL Signals & Forecast
There are few to no technical positive signals at the moment. The Smart for Life, 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 $2.94 and $3.16. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 30, 2024, and so far it has fallen -53.10%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 $2.77 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 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 $0.280 between high and low, or 10.77%. For the last week the stock has had daily average volatility of 9.44%.
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 Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Smart for Life, Inc. to open at $2.76, and during the day (based on 14 day Average True Range), to move between $2.29 and $3.31, which gives a possible trading interval of +/-$0.512 (+/-18.28%) 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 36.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.77 (1.07%) than the resistance at $3.07 (9.64%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Smart for Life, Inc. stock A Buy?
The Smart for Life, Inc. stock holds several negative signals and despite the positive trend, we believe Smart for Life, Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.459 Sell Candidate Unchanged
Predicted Opening Price for Smart for Life, Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $2.76 ( 1.43%) | $2.80 |
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 | |
|---|---|---|
| R3 | 3.04 | 8.57% |
| R2 | 2.93 | 4.75% |
| R1 | 2.87 | 2.39% |
| Price | 2.80 | |
| S1 | 2.65 | -5.25% |
| S2 | 2.59 | -7.61% |
| S3 | 2.48 | -11.43% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.45 | 23.21% |
| R2 | 3.24 | 15.71% |
| R1 | 3.07 | 9.64% |
| Price | 2.80 | |
| S1 | 2.77 | -1.07% |
| S2 | 2.73 | -2.50% |
| S3 | 2.70 | -3.57% |
FAQ
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