Smart for Life, Inc. Stock Forecast
Big movements in Smart for Life, Inc. stock price on Thursday moving 14.37% between high and low
(Updated on May 02, 2024)
The Smart for Life, Inc. stock price gained 3.75% on the last trading day (Thursday, 2nd May 2024), rising from $3.20 to $3.32. During the last trading day the stock fluctuated 14.37% from a day low at $3.13 to a day high of $3.58. The price has risen in 6 of the last 10 days and is up by 617.84% over the past 2 weeks. Volume fell on the last day by -26 thousand shares and in total, 141 thousand shares were bought and sold for approximately $469.29 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 middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 58.25% during the next 3 months and, with a 90% probability hold a price between $1.18 and $7.73 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
SMFL Signals & Forecast
The Smart for Life, Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $3.63. On a fall, the stock will find some support from the long-term average at approximately $1.45. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -29.06%. Further fall is indicated until a new bottom pivot has been found. 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 $3.20 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 $0.450 between high and low, or 14.37%. For the last week the stock has had daily average volatility of 17.51%.
Our recommended stop-loss: $3.15 (-5.10%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 7 days ago.)
Trading Expectations (SMFL) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Smart for Life, Inc. to open at $3.34, and during the day (based on 14 day Average True Range), to move between $2.66 and $3.98, which gives a possible trading interval of +/-$0.659 (+/-19.84%) 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 39.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.20 (3.61%) than the resistance at $3.50 (5.42%), 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?
Smart for Life, Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.867 Hold/Accumulate Unchanged
Predicted Opening Price for Smart for Life, Inc. of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $3.34 ( 0.704%) | $3.32 |
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 | 3.79 | 14.26 % | |
| R2 | 3.62 | 9.08 % | ||
| R1 | 3.52 | 5.88 % | ||
| Current price: | 3.32 | |||
| Support | S1 | 3.17 | -4.47 % | |
| S2 | 3.07 | -7.67 % | ||
| S3 | 2.89 | -12.85 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.05 | 21.99 % | |
| R2 | 3.85 | 15.96 % | ||
| R1 | 3.50 | 5.42 % | ||
| Current price | 3.32 | |||
| Support | S1 | 3.20 | -3.61% | |
| S2 | 3.14 | -5.42% | ||
| S3 | 0 | . |
FAQ
Click here for our free guide on how to buy Smart for Life, Inc. Stock.
