Society Pass Incorporated Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
![Bollinger Bottleneck Buy Pattern 1](https://stockinvest.us/assets/img/legend/boll_tight.gif?v=9c477529db2857fdd0fe37e6230326b11249550d)
![Bollinger Bottleneck Buy Pattern 2](https://stockinvest.us/assets/img/legend/boll_tight2.gif?v=9c477529db2857fdd0fe37e6230326b11249550d)
![Bollinger Bottleneck Sell Pattern](https://stockinvest.us/assets/img/legend/boll_tight3.gif?v=9c477529db2857fdd0fe37e6230326b11249550d)
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
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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