Sonim Technologies Inc. Stock Forecast
Sonim Technologies Inc. stock price down 3.86% on Thursday
(Updated on Apr 18, 2024)
The Sonim Technologies Inc. stock price fell by -3.86% on the last day (Thursday, 18th Apr 2024) from $0.523 to $0.503. During the last trading day the stock fluctuated 4.12% from a day low at $0.499 to a day high of $0.520. The price has fallen in 7 of the last 10 days and is down by -15.12% 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 -37 thousand shares and in total, 27 thousand shares were bought and sold for approximately $13.70 thousand.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.494 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -16.60% during the next 3 months and, with a 90% probability hold a price between $0.412 and $0.547 at the end of this 3-month period.
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SONM Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.80%. 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. The Sonim Technologies Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.522 and $0.624. A break-up above any of these levels will issue buy signals. 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 Sonim Technologies Inc. stock
Sonim Technologies Inc. finds support from accumulated volume at $0.499 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0206 between high and low, or 4.12%. For the last week the stock has had daily average volatility of 6.46%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SONM) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Sonim Technologies Inc. to open at $0.507, and during the day (based on 14 day Average True Range), to move between $0.459 and $0.546, which gives a possible trading interval of +/-$0.0433 (+/-8.62%) up or down from last closing price. If Sonim Technologies Inc. takes out the full calculated possible swing range there will be an estimated 17.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.499 (0.80%) than the resistance at $0.509 (1.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sonim Technologies Inc. stock A Buy?
Sonim Technologies 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.
Current score: -3.614 Sell Candidate Unchanged
Predicted Opening Price for Sonim Technologies Inc. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $0.507 ( 0.96%) | $0.503 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SONM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.528 | 5.05 % | |
| R2 | 0.520 | 3.49 % | ||
| R1 | 0.515 | 2.52 % | ||
| Current price: | 0.503 | |||
| Support | S1 | 0.499 | -0.611 % | |
| S2 | 0.495 | -1.58 % | ||
| S3 | 0.487 | -3.14 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.530 | 5.49 % | |
| R2 | 0.515 | 2.49 % | ||
| R1 | 0.509 | 1.33 % | ||
| Current price | 0.503 | |||
| Support | S1 | 0.499 | -0.796% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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