StoneX Group Inc. Stock Forecast
StoneX Group Inc. stock upgraded from Hold/Accumulate to Strong Buy Candidate after Tuesday trading session.
(Updated on Jul 02, 2024)
The StoneX Group Inc. stock price gained 2.61% on the last trading day (Tuesday, 2nd Jul 2024), rising from $74.98 to $76.94. During the last trading day the stock fluctuated 2.57% from a day low at $75.29 to a day high of $77.23. The price has risen in 7 of the last 10 days and is up by 7.14% over the past 2 weeks. Volume fell on the last day by -76 thousand shares and in total, 114 thousand shares were bought and sold for approximately $8.77 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 wide and weak 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 9.22% during the next 3 months and, with a 90% probability hold a price between $76.43 and $90.93 at the end of this 3-month period.
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SNEX Signals & Forecast
The StoneX Group 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 $74.24 and $73.77. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, May 09, 2024, and so far it has fallen -2.83%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for StoneX Group Inc. stock
StoneX Group Inc. finds support from accumulated volume at $76.89 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.93 between high and low, or 2.57%. For the last week the stock has had daily average volatility of 2.20%.
Our recommended stop-loss: $73.24 (-4.81%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 52 days ago.)
Trading Expectations (SNEX) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect StoneX Group Inc. to open at $76.49, and during the day (based on 14 day Average True Range), to move between $75.31 and $78.57, which gives a possible trading interval of +/-$1.63 (+/-2.12%) up or down from last closing price. If StoneX Group Inc. takes out the full calculated possible swing range there will be an estimated 4.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $76.97 (0.04%) than the support at $76.89 (0.06%), 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 StoneX Group Inc. stock A Buy?
StoneX Group Inc. holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 5.700 Strong Buy Candidate Upgraded
Predicted Opening Price for StoneX Group Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $76.49 ( 0.591%) | $76.94 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SNEX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 78.42 | 1.92% |
| R2 | 77.68 | 0.96% |
| R1 | 77.22 | 0.369% |
| Price | 76.94 | |
| S1 | 75.75 | -1.55% |
| S2 | 75.29 | -2.15% |
| S3 | 74.55 | -3.11% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 79.18 | 2.91% |
| R2 | 77.89 | 1.23% |
| R1 | 76.97 | 0.0390% |
| Price | 76.94 | |
| S1 | 76.89 | -0.0650% |
| S2 | 75.31 | -2.12% |
| S3 | 72.15 | -6.23% |
FAQ
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