SPO Global Inc. Stock Forecast

Big movements in SPO Global Inc. stock price on Tuesday moving 48.15% between high and low
(Updated on Jun 25, 2024)

SPOM Signals & Forecast

The SPO Global Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.0035 and $0.0032. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). SPO Global 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -2.50%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for SPO Global Inc. stock

SPO Global Inc. finds support from accumulated volume at $0.0038 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 $0.0013 between high and low, or 48.15%. For the last week, the stock has had daily average volatility of 19.17%.

Our recommended stop-loss: $0.0037 (-4.05%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 27 days ago.)

Trading Expectations (SPOM) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect SPO Global Inc. to open at $0.0035, and during the day (based on 14 day Average True Range), to move between $0.0033 and $0.0045, which gives a possible trading interval of +/-$0.0006 (+/-14.81%) up or down from last closing price. If SPO Global Inc. takes out the full calculated possible swing range there will be an estimated 29.62% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0038 (2.56%) than the resistance at $0.0040 (2.56%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is SPO Global Inc. stock A Buy?

SPO Global Inc. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 6.497 Strong Buy Candidate Upgraded

Predicted Opening Price for SPO Global Inc. of Wednesday, June 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.