Sonendo, Inc. Stock Forecast
Volatile ride for Sonendo, Inc. stock price on Thursday moving between $0.0913 and $0.105
(Updated on May 02, 2024)
The Sonendo, Inc. stock price gained 5.00% on the last trading day (Thursday, 2nd May 2024), rising from $0.100 to $0.105. During the last trading day the stock fluctuated 15.01% from a day low at $0.0913 to a day high of $0.105. The price has risen in 6 of the last 10 days and is up by 18.74% 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, 51 thousand more shares were traded than the day before. In total, 77 thousand shares were bought and sold for approximately $8.08 thousand.
The stock lies the upper part of a very wide and falling 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 $0.108 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -50.28% during the next 3 months and, with a 90% probability hold a price between $0.0292 and $0.0539 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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SONX Signals & Forecast
Mostly positive signals in the chart today. The Sonendo, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.0963 and $0.0981. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 28.05%. 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). Sonendo, Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Sonendo, Inc. stock
Sonendo, Inc. finds support from accumulated volume at $0.105 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 $0.0137 between high and low, or 15.01%. For the last week, the stock has had daily average volatility of 12.05%.
Our recommended stop-loss: $0.101 (-3.74%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (SONX) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Sonendo, Inc. to open at $0.100, and during the day (based on 14 day Average True Range), to move between $0.0900 and $0.120, which gives a possible trading interval of +/-$0.0150 (+/-14.25%) up or down from last closing price. If Sonendo, Inc. takes out the full calculated possible swing range there will be an estimated 28.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.105 (0.05%) than the support at $0.105 (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
Sonendo, Inc. will release earnings AMC on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.0900. We will update the financials statements for Sonendo, Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 12.83% in the first trading day after earnings release.
Is Sonendo, 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.
Current score: 3.931 Buy Candidate Unchanged
Predicted Opening Price for Sonendo, Inc. of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $0.100 ( 4.35%) | $0.105 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SONX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.114 | 8.70 % | |
| R2 | 0.109 | 3.71 % | ||
| R1 | 0.106 | 0.635 % | ||
| Current price: | 0.105 | |||
| Support | S1 | 0.0952 | -9.33 % | |
| S2 | 0.0920 | -12.41 % | ||
| S3 | 0.0867 | -17.40 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.123 | 17.59 % | |
| R2 | 0.110 | 4.76 % | ||
| R1 | 0.105 | 0.0476 % | ||
| Current price | 0.105 | |||
| Support | S1 | 0.105 | -0.190% | |
| S2 | 0.100 | -4.76% | ||
| S3 | 0.0999 | -4.86% |
FAQ
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