Spruce Power Holding Corporation Stock Forecast
Spruce Power Holding Corporation stock price ended at $3.79 on Friday, after losing 0.785%.
(Updated on May 17, 2024)
The Spruce Power Holding Corporation stock price fell by -0.785% on the last day (Friday, 17th May 2024) from $3.82 to $3.79. During the last trading day the stock fluctuated 4.80% from a day low at $3.75 to a day high of $3.93. The price has fallen in 7 of the last 10 days and is down by -16.34% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -4 thousand shares and in total, 15 thousand shares were bought and sold for approximately $55.11 thousand.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 6.96% during the next 3 months and, with a 90% probability hold a price between $3.44 and $5.13 at the end of this 3-month period.
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SPRU Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 15, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Spruce Power Holding Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $3.91 and $3.88. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Spruce Power Holding Corporation stock
Spruce Power Holding Corporation finds support from accumulated volume at $3.70 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.180 between high and low, or 4.80%. For the last week the stock has had daily average volatility of 5.89%.
Our recommended stop-loss: $3.55 (-6.46%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (SPRU) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Spruce Power Holding Corporation to open at $3.82, and during the day (based on 14 day Average True Range), to move between $3.53 and $4.05, which gives a possible trading interval of +/-$0.258 (+/-6.80%) up or down from last closing price. If Spruce Power Holding Corporation takes out the full calculated possible swing range there will be an estimated 13.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.82 (0.79%) than the support at $3.70 (2.37%), 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 Spruce Power Holding Corporation stock A Buy?
Spruce Power Holding Corporation holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.526 Hold/Accumulate Unchanged
Predicted Opening Price for Spruce Power Holding Corporation of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $3.82 ( 0.88%) | $3.79 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SPRU
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.00 | 5.63 % | |
| R2 | 3.93 | 3.81 % | ||
| R1 | 3.89 | 2.69 % | ||
| Current price: | 3.79 | |||
| Support | S1 | 3.75 | -0.93 % | |
| S2 | 3.71 | -2.06 % | ||
| S3 | 3.64 | -3.87 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.97 | 4.75 % | |
| R2 | 3.87 | 2.11 % | ||
| R1 | 3.82 | 0.792 % | ||
| Current price | 3.79 | |||
| Support | S1 | 3.70 | -2.37% | |
| S2 | 3.68 | -2.90% | ||
| S3 | 3.36 | -11.35% |
FAQ
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