Society Pass Incorporated Stock Forecast
High volatility in Society Pass Incorporated stock price on Tuesday which ended trading at $1.26
(Updated on Jul 02, 2024)
The Society Pass Incorporated stock price gained 4.13% on the last trading day (Tuesday, 2nd Jul 2024), rising from $1.21 to $1.26. During the last trading day the stock fluctuated 12.14% from a day low at $1.15 to a day high of $1.29. The price has been going up and down for this period, and there has been a -6.67% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 85 thousand more shares were traded than the day before. In total, 123 thousand shares were bought and sold for approximately $155.31 thousand.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $1.22 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 107.89% during the next 3 months and, with a 90% probability hold a price between $2.53 and $6.37 at the end of this 3-month period.
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SOPA Signals & Forecast
There are mixed signals in the stock today. The Society Pass Incorporated stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $1.63. On a fall, the stock will find some support from the short-term average at $1.21. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Thursday, May 09, 2024, and so far it has fallen -41.12%. 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). Society Pass Incorporated 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. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Society Pass Incorporated stock
Society Pass Incorporated finds support from accumulated volume at $1.21 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.140 between high and low, or 12.14%. For the last week, the stock has had daily average volatility of 10.36%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SOPA) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Society Pass Incorporated to open at $1.23, and during the day (based on 14 day Average True Range), to move between $1.11 and $1.41, which gives a possible trading interval of +/-$0.152 (+/-12.08%) up or down from last closing price. If Society Pass Incorporated takes out the full calculated possible swing range there will be an estimated 24.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.21 (3.97%) than the resistance at $1.33 (5.56%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Society Pass Incorporated stock A Buy?
Society Pass Incorporated holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.321 Sell Candidate Unchanged
Predicted Opening Price for Society Pass Incorporated of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $1.23 ( 2.13%) | $1.26 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SOPA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.37 | 8.95% |
| R2 | 1.32 | 4.72% |
| R1 | 1.29 | 2.11% |
| Price | 1.26 | |
| S1 | 1.18 | -6.36% |
| S2 | 1.15 | -8.97% |
| S3 | 1.09 | -13.21% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.42 | 12.70% |
| R2 | 1.34 | 6.35% |
| R1 | 1.33 | 5.56% |
| Price | 1.26 | |
| S1 | 1.21 | -3.97% |
| S2 | 1.19 | -5.56% |
| S3 | 1.15 | -8.73% |
FAQ
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