SANUWAVE Health Inc Stock Forecast
Big movements in SANUWAVE Health Inc stock price on Monday moving 12.32% between high and low
(Updated on May 13, 2024)
The SANUWAVE Health Inc stock price fell by -9.43% on the last day (Monday, 13th May 2024) from $0.0229 to $0.0207. During the last trading day the stock fluctuated 12.32% from a day low at $0.0203 to a day high of $0.0228. The price has risen in 5 of the last 10 days and is up by 6.36% over the past 2 weeks. Volume has increased on the last day by 37 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 625 thousand shares were bought and sold for approximately $12.96 thousand.
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 -13.43% during the next 3 months and, with a 90% probability hold a price between $0.0146 and $0.0204 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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SNWV Signals & Forecast
There are few to no technical positive signals at the moment. The SANUWAVE Health Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.0216 and $0.0208. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 02, 2024, and so far it has fallen -9.83%. 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). SANUWAVE Health Inc gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for SANUWAVE Health Inc stock
SANUWAVE Health Inc finds support from accumulated volume at $0.0205 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 $0.0025 between high and low, or 12.32%. For the last week, the stock has had daily average volatility of 8.20%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SNWV) For The Upcoming Trading Day Of Tuesday 14th
For the upcoming trading day on Tuesday, 14th we expect SANUWAVE Health Inc to open at $0.0213, and during the day (based on 14 day Average True Range), to move between $0.0182 and $0.0232, which gives a possible trading interval of +/-$0.0025 (+/-12.05%) up or down from last closing price. If SANUWAVE Health Inc takes out the full calculated possible swing range there will be an estimated 24.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0205 (1.16%) than the resistance at $0.0210 (1.25%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is SANUWAVE Health Inc stock A Buy?
SANUWAVE Health Inc 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Sell candidate.
Current score: -5.622 Strong Sell Candidate Downgraded
Predicted Opening Price for SANUWAVE Health Inc of Tuesday, May 14, 2024
| Fair opening price May 14, 2024 | Current price |
|---|---|
| $0.0213 ( 2.60%) | $0.0207 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SNWV
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0238 | 14.66 % | |
| R2 | 0.0228 | 10.05 % | ||
| R1 | 0.0222 | 7.21 % | ||
| Current price: | 0.0207 | |||
| Support | S1 | 0.0203 | -2.00 % | |
| S2 | 0.0197 | -4.85 % | ||
| S3 | 0.0188 | -9.45 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0220 | 6.08 % | |
| R2 | 0.0215 | 3.66 % | ||
| R1 | 0.0210 | 1.25 % | ||
| Current price | 0.0207 | |||
| Support | S1 | 0.0205 | -1.16% | |
| S2 | 0.0200 | -3.57% | ||
| S3 | 0.0198 | -4.53% |
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