SP Plus Corporation 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:
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
SP Plus Corporation stock price up 0.0194% on Friday
(Updated on May 03, 2024)
The SP Plus Corporation stock price gained 0.0194% on the last trading day (Friday, 3rd May 2024), rising from $51.50 to $51.51. During the last trading day the stock fluctuated 0.448% from a day low at $51.38 to a day high of $51.61. The price has risen in 5 of the last 10 days and is up by 1.64% over the past 2 weeks. Volume fell on the last day by -28 thousand shares and in total, 69 thousand shares were bought and sold for approximately $3.54 million. 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 stockis at the upper part of a narrow and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $51.66 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect SP Plus Corporation stock with a 90% probability to be traded between $50.15 and $51.60 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SP Signals & Forecast
Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The SP Plus Corporation 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 $51.64. On a fall, the stock will find some support from the short-term average at $51.29. 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 Wednesday, May 01, 2024, and so far it has fallen -0.290%. 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). The stock had a Golden Star Signal on Tuesday, March 05, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Tuesday, March 05, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for SP Plus Corporation stock
SP Plus Corporation finds support from accumulated volume at $51.33 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.230 between high and low, or 0.448%. For the last week the stock has had daily average volatility of 0.89%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SP) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect SP Plus Corporation to open at $51.50, and during the day (based on 14 day Average True Range), to move between $50.98 and $52.04, which gives a possible trading interval of +/-$0.533 (+/-1.03%) up or down from last closing price. If SP Plus Corporation takes out the full calculated possible swing range there will be an estimated 2.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $51.56 (0.10%) than the support at $51.33 (0.35%), 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 SP Plus Corporation stock A Buy?
SP Plus Corporation holds several negative signals and is within a narrow 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: -3.489 Sell Candidate Unchanged
Predicted Opening Price for SP Plus Corporation of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $51.50 ( 0.0194%) | $51.51 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 51.73 | 0.427 % | |
| R2 | 51.64 | 0.257 % | ||
| R1 | 51.59 | 0.151 % | ||
| Current price: | 51.51 | |||
| Support | S1 | 51.41 | -0.190 % | |
| S2 | 51.36 | -0.295 % | ||
| S3 | 51.27 | -0.466 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 52.00 | 0.95 % | |
| R2 | 51.81 | 0.582 % | ||
| R1 | 51.56 | 0.0971 % | ||
| Current price | 51.51 | |||
| Support | S1 | 51.33 | -0.349% | |
| S2 | 51.31 | -0.388% | ||
| S3 | 51.11 | -0.777% |
FAQ
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