Snap One Holdings Corp. Stock Forecast
Snap One Holdings Corp. stock upgraded from Hold/Accumulate to Buy Candidate after Tuesday trading session.
(Updated on Apr 30, 2024)
The Snap One Holdings Corp. stock price gained 0.284% on the last trading day (Tuesday, 30th Apr 2024), rising from $10.55 to $10.58. During the last trading day the stock fluctuated 0.389% from a day low at $10.54 to a day high of $10.58. The price has risen in 5 of the last 10 days and is up by 0.38% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 231 thousand more shares were traded than the day before. In total, 413 thousand shares were bought and sold for approximately $4.37 million.
The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $10.97 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 31.63% during the next 3 months and, with a 90% probability hold a price between $11.17 and $14.44 at the end of this 3-month period.
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SNPO Signals & Forecast
The Snap One Holdings Corp. 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 $10.56 and $9.22. 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 is rising along with the price. This is considered to be a good technical signal. 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 Wednesday, April 17, 2024, and so far it has fallen -0.0944%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Snap One Holdings Corp. stock
Snap One Holdings Corp. finds support from accumulated volume at $10.56 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 $0.0410 between high and low, or 0.389%. For the last week, the stock has had daily average volatility of 0.345%.
Our recommended stop-loss: $10.20 (-3.56%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (SNPO) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Snap One Holdings Corp. to open at $10.57, and during the day (based on 14 day Average True Range), to move between $10.26 and $10.90, which gives a possible trading interval of +/-$0.321 (+/-3.04%) up or down from last closing price. If Snap One Holdings Corp. takes out the full calculated possible swing range there will be an estimated 6.08% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $10.59 (0.09%) than the support at $10.56 (0.19%), 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.
Earnings coming up
Snap One Holdings Corp. will release earnings AMC on Tuesday, May 07, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.0800. We will update the financials statements for Snap One Holdings Corp., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.50% in the first trading day after earnings release.
Is Snap One Holdings Corp. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Snap One Holdings Corp. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.608 Buy Candidate Upgraded
Predicted Opening Price for Snap One Holdings Corp. of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| $10.57 ( 0.123%) | $10.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SNPO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.61 | 0.265 % | |
| R2 | 10.59 | 0.117 % | ||
| R1 | 10.58 | 0.0252 % | ||
| Current price: | 10.58 | |||
| Support | S1 | 10.55 | -0.271 % | |
| S2 | 10.54 | -0.362 % | ||
| S3 | 10.53 | -0.510 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 10.59 | 0.0945 % | ||
| Current price | 10.58 | |||
| Support | S1 | 10.56 | -0.189% | |
| S2 | 10.54 | -0.378% | ||
| S3 | 8.62 | -18.53% |
FAQ
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