Similarweb Ltd. Stock Forecast
Red day on Monday for Similarweb Ltd.
(Updated on Apr 29, 2024)
The Similarweb Ltd. stock price fell by -2.05% on the last day (Monday, 29th Apr 2024) from $7.82 to $7.66. During the last trading day the stock fluctuated 3.42% from a day low at $7.61 to a day high of $7.87. The price has fallen in 6 of the last 10 days but is still up by 1.86% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -7 thousand shares and in total, 66 thousand shares were bought and sold for approximately $509.10 thousand.
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 13.94% during the next 3 months and, with a 90% probability hold a price between $7.98 and $11.59 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 $7.74 and $8.46. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 11, 2024, and so far it has fallen -19.28%. 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 along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Similarweb Ltd. stock
Similarweb Ltd. finds support from accumulated volume at $7.56 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.260 between high and low, or 3.42%. For the last week the stock has had daily average volatility of 3.21%.
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 Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect Similarweb Ltd. to open at $7.71, and during the day (based on 14 day Average True Range), to move between $7.29 and $8.03, which gives a possible trading interval of +/-$0.373 (+/-4.87%) up or down from last closing price. If Similarweb Ltd. takes out the full calculated possible swing range there will be an estimated 9.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.56 (1.31%) than the resistance at $8.32 (8.62%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Similarweb Ltd. will release earnings AMC on Tuesday, May 07, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.0200. We will update the financials statements for Similarweb Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.87% in the first trading day after earnings release.
Is Similarweb Ltd. stock A Buy?
The Similarweb Ltd. stock holds several negative signals and despite the positive trend, we believe Similarweb Ltd. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.033 Sell Candidate Unchanged
Predicted Opening Price for Similarweb Ltd. of Tuesday, April 30, 2024
| Fair opening price April 30, 2024 | Current price |
|---|---|
| $7.71 ( 0.696%) | $7.66 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 7.97 | 4.09 % | |
| R2 | 7.87 | 2.79 % | ||
| R1 | 7.81 | 1.99 % | ||
| Current price: | 7.66 | |||
| Support | S1 | 7.61 | -0.600 % | |
| S2 | 7.55 | -1.40 % | ||
| S3 | 7.45 | -2.70 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.28 | 21.15 % | |
| R2 | 9.00 | 17.49 % | ||
| R1 | 8.32 | 8.62 % | ||
| Current price | 7.66 | |||
| Support | S1 | 7.56 | -1.31% | |
| S2 | 7.01 | -8.49% | ||
| S3 | 6.74 | -12.01% |
FAQ
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