Stryve Foods, Inc. Stock Forecast
Big movements in Stryve Foods, Inc. stock price on Monday moving 10.45% between high and low
(Updated on Apr 29, 2024)
The Stryve Foods, Inc. stock price gained 8.82% on the last trading day (Monday, 29th Apr 2024), rising from $1.36 to $1.48. During the last trading day the stock fluctuated 10.45% from a day low at $1.34 to a day high of $1.48. The price has fallen in 5 of the last 10 days but is still up by 18.4% over the past 2 weeks. Volume fell on the last day by -5 thousand shares and in total, 17 thousand shares were bought and sold for approximately $25.65 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 stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $1.40, a level that may pose a second chance to hit a runner. According to fan-theory $1.71 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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SNAX Signals & Forecast
The Stryve Foods, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $1.37 and $1.29. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 04, 2024, and so far it has risen 29.82%. 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. 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Stryve Foods, Inc. stock
Stryve Foods, Inc. finds support from accumulated volume at $1.46 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 $0.140 between high and low, or 10.45%. For the last week the stock has had daily average volatility of 9.23%.
Our recommended stop-loss: $1.43 (-3.45%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (SNAX) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect Stryve Foods, Inc. to open at $1.43, and during the day (based on 14 day Average True Range), to move between $1.35 and $1.61, which gives a possible trading interval of +/-$0.129 (+/-8.68%) up or down from last closing price. If Stryve Foods, Inc. takes out the full calculated possible swing range there will be an estimated 17.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.49 (0.68%) than the support at $1.46 (1.35%), 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 Stryve Foods, Inc. stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.523 Buy Candidate Upgraded
Predicted Opening Price for Stryve Foods, Inc. of Tuesday, April 30, 2024
| Fair opening price April 30, 2024 | Current price |
|---|---|
| $1.43 ( 3.15%) | $1.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SNAX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.57 | 6.31 % | |
| R2 | 1.52 | 2.69 % | ||
| R1 | 1.49 | 0.460 % | ||
| Current price: | 1.48 | |||
| Support | S1 | 1.38 | -6.77 % | |
| S2 | 1.35 | -9.00 % | ||
| S3 | 1.29 | -12.61 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.56 | 5.41 % | |
| R2 | 1.50 | 1.35 % | ||
| R1 | 1.49 | 0.676 % | ||
| Current price | 1.48 | |||
| Support | S1 | 1.46 | -1.35% | |
| S2 | 1.26 | -14.86% | ||
| S3 | 1.19 | -19.63% |
FAQ
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