Synchronoss Technologies Stock Forecast
Stronger technical forecast for Synchronoss Technologies stock price after Thursday trading.
(Updated on May 02, 2024)
No changes to the price of Synchronoss Technologies stock on the last trading day (Thursday, 2nd May 2024). During the last trading day the stock fluctuated 8.06% from a day low at $6.33 to a day high of $6.84. The price has risen in 5 of the last 10 days and is up by 0.47% over the past 2 weeks.
The stock lies in the middle of a very 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 -17.06% during the next 3 months and, with a 90% probability hold a price between $3.33 and $8.66 at the end of this 3-month period.
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SNCR Signals & Forecast
Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". Some negative signals were issued as well, and these may have some influence on the near short-term development. The Synchronoss Technologies 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 $6.47 and $7.63. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, February 20, 2024, and so far it has fallen -47.30%. 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).
Support, Risk & Stop-loss for Synchronoss Technologies stock
Synchronoss Technologies finds support from accumulated volume at $6.42 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 a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.510 between high and low, or 8.06%. For the last week, the stock has had daily average volatility of 7.12%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SNCR) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Synchronoss Technologies to open at $6.54, and during the day (based on 14 day Average True Range), to move between $5.93 and $6.97, which gives a possible trading interval of +/-$0.519 (+/-8.04%) up or down from last closing price. If Synchronoss Technologies takes out the full calculated possible swing range there will be an estimated 16.08% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $6.42 (0.47%) than the resistance at $7.29 (13.02%), 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
Synchronoss Technologies will release earnings BMO on Tuesday, May 07, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.500. We will update the financials statements for Synchronoss Technologies, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.78% in the first trading day after earnings release.
Is Synchronoss Technologies stock A Buy?
Synchronoss Technologies holds several negative signals and is within a very 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.987 Sell Candidate Upgraded
Predicted Opening Price for Synchronoss Technologies of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $6.54 ( 1.40%) | $6.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SNCR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.05 | 9.30 % | |
| R2 | 6.86 | 6.28 % | ||
| R1 | 6.73 | 4.42 % | ||
| Current price: | 6.45 | |||
| Support | S1 | 6.35 | -1.62 % | |
| S2 | 6.22 | -3.49 % | ||
| S3 | 6.03 | -6.51 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.00 | 24.03 % | |
| R2 | 7.80 | 20.93 % | ||
| R1 | 7.29 | 13.02 % | ||
| Current price | 6.45 | |||
| Support | S1 | 6.42 | -0.465% | |
| S2 | 6.31 | -2.17% | ||
| S3 | 6.09 | -5.58% |
FAQ
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