Sonida Senior Living, Inc. Stock Forecast
Big movements in Sonida Senior Living, Inc. stock price on Tuesday moving 12.35% between high and low
(Updated on Jul 02, 2024)
The Sonida Senior Living, Inc. stock price gained 10.14% on the last trading day (Tuesday, 2nd Jul 2024), rising from $28.60 to $31.50. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 12.35% from a day low at $28.74 to a day high of $32.29. The price has been going up and down for this period, and there has been a 11.7% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 19 thousand more shares were traded than the day before. In total, 48 thousand shares were bought and sold for approximately $1.51 million.
Given the current short-term trend, the stock is expected to fall -4.11% during the next 3 months and, with a 90% probability hold a price between $21.74 and $30.21 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SNDA Signals & Forecast
The Sonida Senior Living, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $26.53 and $26.91. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 34.62%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Sonida Senior Living, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $27.50 and $26.65. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Sonida Senior Living, Inc. finds support just below today's level at $27.50. If this is broken, then the next support from accumulated volume will be at $26.65 and $24.90.
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 $3.55 between high and low, or 12.35%. For the last week, the stock has had daily average volatility of 11.05%.
The Sonida Senior Living, Inc. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $30.18 (-4.18%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 72 and this increases the risk substantially. There is a buy signal from a pivot bottom found 18 days ago.)
Trading Expectations (SNDA) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Sonida Senior Living, Inc. to open at $30.84, and during the day (based on 14 day Average True Range), to move between $29.17 and $33.83, which gives a possible trading interval of +/-$2.33 (+/-7.39%) up or down from last closing price. If Sonida Senior Living, Inc. takes out the full calculated possible swing range there will be an estimated 14.78% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $27.50, some $4.00 (12.70%) from the current price of $31.50, our system finds the risk reward attractive.
Is Sonida Senior Living, Inc. stock A Buy?
Sonida Senior Living, Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Sonida Senior Living, Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $30.84 ( 2.08%) | $31.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SNDA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 34.39 | 9.19% |
| R2 | 33.04 | 4.88% |
| R1 | 32.20 | 2.22% |
| Price | 31.50 | |
| S1 | 29.49 | -6.39% |
| S2 | 28.65 | -9.05% |
| S3 | 27.29 | -13.35% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 31.50 | |
| S1 | 27.50 | -12.70% |
| S2 | 26.65 | -15.40% |
| S3 | 24.90 | -20.95% |
FAQ
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