Similarweb Ltd. Stock Forecast
Similarweb Ltd. stock price ended at $7.38 on Tuesday, after losing 1.60%.
(Updated on Jul 02, 2024)
The Similarweb Ltd. stock price fell by -1.60% on the last day (Tuesday, 2nd Jul 2024) from $7.50 to $7.38. During the last trading day the stock fluctuated 3.64% from a day low at $7.28 to a day high of $7.55. The price has fallen in 6 of the last 10 days and is down by -4.28% for this period. Volume has increased on the last day by 99 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, 158 thousand shares were bought and sold for approximately $1.16 million.
The stock lies in the middle of a 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 -5.08% during the next 3 months and, with a 90% probability hold a price between $6.40 and $7.52 at the end of this 3-month period.
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SMWB Signals & Forecast
There are few to no technical positive signals at the moment. The Similarweb Ltd. 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 $7.59 and $7.72. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 24, 2024, and so far it has fallen -8.78%. 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). Similarweb Ltd. 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 Similarweb Ltd. stock
Similarweb Ltd. finds support from accumulated volume at $7.26 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.265 (3.64%) between high and low. For the last week, the stock has had daily average volatility of 3.33%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SMWB) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Similarweb Ltd. to open at $7.40, and during the day (based on 14 day Average True Range), to move between $7.08 and $7.68, which gives a possible trading interval of +/-$0.304 (+/-4.12%) up or down from last closing price. If Similarweb Ltd. takes out the full calculated possible swing range there will be an estimated 8.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.45 (0.95%) than the support at $7.26 (1.63%), 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 Similarweb Ltd. stock A Buy?
Similarweb Ltd. holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.827 Sell Candidate Unchanged
Predicted Opening Price for Similarweb Ltd. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $7.40 ( 0.294%) | $7.38 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SMWB
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.67 | 3.88% |
| R2 | 7.57 | 2.51% |
| R1 | 7.50 | 1.67% |
| Price | 7.38 | |
| S1 | 7.30 | -1.08% |
| S2 | 7.24 | -1.93% |
| S3 | 7.14 | -3.30% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.80 | 5.69% |
| R2 | 7.58 | 2.71% |
| R1 | 7.45 | 0.95% |
| Price | 7.38 | |
| S1 | 7.26 | -1.63% |
| S2 | 7.03 | -4.74% |
| S3 | 7.00 | -5.15% |
FAQ
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