Sleep Number Corporation Stock Forecast
High volatility in Sleep Number Corporation stock price on Wednesday which ended trading at $13.52
(Updated on May 01, 2024)
The Sleep Number Corporation stock price gained 1.58% on the last trading day (Wednesday, 1st May 2024), rising from $13.31 to $13.52. During the last trading day the stock fluctuated 10.83% from a day low at $13.07 to a day high of $14.48. The price has been going up and down for this period, and there has been a 2.58% gain for the last 2 weeks. Volume fell on the last day by -30 thousand shares and in total, 507 thousand shares were bought and sold for approximately $6.85 million. 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 14.45% during the next 3 months and, with a 90% probability hold a price between $13.31 and $21.06 at the end of this 3-month period.
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SNBR Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Sleep Number Corporation 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 $13.86 and $13.95. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 08, 2024, and so far it has fallen -20.42%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Sleep Number Corporation stock
Sleep Number Corporation finds support from accumulated volume at $12.96 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.42 between high and low, or 10.83%. For the last week, the stock has had daily average volatility of 10.14%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SNBR) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Sleep Number Corporation to open at $13.69, and during the day (based on 14 day Average True Range), to move between $12.43 and $14.61, which gives a possible trading interval of +/-$1.09 (+/-8.03%) up or down from last closing price. If Sleep Number Corporation takes out the full calculated possible swing range there will be an estimated 16.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $12.96 (4.14%) than the resistance at $14.23 (5.25%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sleep Number Corporation stock A Buy?
The Sleep Number Corporation stock holds several negative signals and despite the positive trend, we believe Sleep Number Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.702 Sell Candidate Unchanged
Predicted Opening Price for Sleep Number Corporation of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $13.69 ( 1.25%) | $13.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SNBR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.10 | 11.71 % | |
| R2 | 14.56 | 7.71 % | ||
| R1 | 14.23 | 5.24 % | ||
| Current price: | 13.52 | |||
| Support | S1 | 13.15 | -2.75 % | |
| S2 | 12.81 | -5.22 % | ||
| S3 | 12.27 | -9.22 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.78 | 24.11 % | |
| R2 | 14.70 | 8.73 % | ||
| R1 | 14.23 | 5.25 % | ||
| Current price | 13.52 | |||
| Support | S1 | 12.96 | -4.14% | |
| S2 | 11.05 | -18.27% | ||
| S3 | 10.26 | -24.11% |
FAQ
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