Sonder Holdings Inc. Stock Forecast
Stronger technical forecast for Sonder Holdings Inc. stock price after Monday trading.
(Updated on Jun 17, 2024)
The Sonder Holdings Inc. stock price gained 4.22% on the last trading day (Monday, 17th Jun 2024), rising from $3.79 to $3.95. During the last trading day the stock fluctuated 7.18% from a day low at $3.76 to a day high of $4.03. The price has been going up and down for this period, and there has been a 10.64% gain for the last 2 weeks. Volume fell on the last day by -7 thousand shares and in total, 25 thousand shares were bought and sold for approximately $97.67 thousand. 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 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 -4.85% during the next 3 months and, with a 90% probability hold a price between $2.85 and $5.27 at the end of this 3-month period.
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SOND Signals & Forecast
The Sonder Holdings 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 $3.70 and $3.64. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 07, 2024, and so far it has risen 30.79%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Sonder Holdings Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $3.60 and $3.55. 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, Sonder Holdings Inc. finds support just below today's level at $3.60. If this is broken, then the next support from accumulated volume will be at $3.55 and $3.40.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.270 between high and low, or 7.18%. For the last week the stock has had daily average volatility of 15.34%.
Our recommended stop-loss: $3.82 (-3.20%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 45 days ago.)
Trading Expectations (SOND) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Sonder Holdings Inc. to open at $3.91, and during the day (based on 14 day Average True Range), to move between $3.54 and $4.36, which gives a possible trading interval of +/-$0.414 (+/-10.48%) up or down from last closing price. If Sonder Holdings Inc. takes out the full calculated possible swing range there will be an estimated 20.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $4.05 (2.53%) than the support at $3.60 (8.86%), 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 Sonder Holdings Inc. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for 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: 2.822 Buy Candidate Upgraded
Predicted Opening Price for Sonder Holdings Inc. of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $3.91 ( 0.93%) | $3.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SOND
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.18 | 5.91% |
| R2 | 4.08 | 3.30% |
| R1 | 4.02 | 1.68% |
| Price | 3.95 | |
| S1 | 3.81 | -3.54% |
| S2 | 3.75 | -5.15% |
| S3 | 3.64 | -7.76% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.75 | 20.25% |
| R2 | 4.52 | 14.43% |
| R1 | 4.05 | 2.53% |
| Price | 3.95 | |
| S1 | 3.60 | -8.86% |
| S2 | 3.55 | -10.13% |
| S3 | 3.40 | -13.92% |
FAQ
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