Sonoma Pharmaceuticals Inc Stock Forecast
Red day on Friday for Sonoma Pharmaceuticals Inc stock after losing 0.87%
(Updated on Apr 26, 2024)
The Sonoma Pharmaceuticals Inc stock price fell by -0.87% on the last day (Friday, 26th Apr 2024) from $0.160 to $0.159. During the last trading day the stock fluctuated 7.86% from a day low at $0.154 to a day high of $0.166. The price has risen in 6 of the last 10 days but is still down by -9.4% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -6 thousand shares and in total, 106 thousand shares were bought and sold for approximately $16.90 thousand.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Sonoma Pharmaceuticals Inc stock with a 90% probability to be traded between $0.132 and $0.181 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SNOA Signals & Forecast
The Sonoma Pharmaceuticals 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 $0.157 and $0.153. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 6.00%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Sonoma Pharmaceuticals Inc stock
Sonoma Pharmaceuticals Inc finds support from accumulated volume at $0.158 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0121 between high and low, or 7.86%. For the last week the stock has had daily average volatility of 7.63%.
Our recommended stop-loss: $0.153 (-4.06%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (SNOA) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Sonoma Pharmaceuticals Inc to open at $0.160, and during the day (based on 14 day Average True Range), to move between $0.143 and $0.175, which gives a possible trading interval of +/-$0.0160 (+/-10.05%) up or down from last closing price. If Sonoma Pharmaceuticals Inc takes out the full calculated possible swing range there will be an estimated 20.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.158 (0.63%) than the resistance at $0.165 (3.84%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sonoma Pharmaceuticals Inc stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Sonoma Pharmaceuticals Inc stock to perform well in the short-term period.
Current score: 1.819 Buy Candidate Unchanged
Predicted Opening Price for Sonoma Pharmaceuticals Inc of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $0.160 ( 0.398%) | $0.159 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SNOA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.172 | 8.01 % | |
| R2 | 0.167 | 5.10 % | ||
| R1 | 0.164 | 3.31 % | ||
| Current price: | 0.159 | |||
| Support | S1 | 0.155 | -2.51 % | |
| S2 | 0.152 | -4.30 % | ||
| S3 | 0.148 | -7.21 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.185 | 16.42 % | |
| R2 | 0.166 | 4.59 % | ||
| R1 | 0.165 | 3.84 % | ||
| Current price | 0.159 | |||
| Support | S1 | 0.158 | -0.629% | |
| S2 | 0.155 | -2.33% | ||
| S3 | 0.140 | -11.95% |
FAQ
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