Sportsman's Warehouse Holdings, Inc. Stock Forecast
Sportsman's Warehouse Holdings, Inc. stock price ended at $3.21 on Monday, after losing 2.73%.
(Updated on Apr 15, 2024)
The Sportsman's Warehouse Holdings, Inc. stock price fell by -2.73% on the last day (Monday, 15th Apr 2024) from $3.30 to $3.21. It has now fallen 6 days in a row. During the last trading day the stock fluctuated 6.27% from a day low at $3.19 to a day high of $3.39. The price has fallen in 7 of the last 10 days but is still up by 3.88% over the past 2 weeks. 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 -17 thousand shares and in total, 362 thousand shares were bought and sold for approximately $1.16 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -21.35% during the next 3 months and, with a 90% probability hold a price between $2.05 and $2.93 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
SPWH Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Sportsman's Warehouse Holdings, Inc. 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 $3.47 and $3.30. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -15.97%. Further fall is indicated until a new bottom pivot has been found. 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.
Support, Risk & Stop-loss for Sportsman's Warehouse Holdings, Inc. stock
Sportsman's Warehouse Holdings, Inc. finds support from accumulated volume at $3.13 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 $0.200 between high and low, or 6.27%. For the last week the stock has had daily average volatility of 7.64%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SPWH) For The Upcoming Trading Day Of Tuesday 16th
For the upcoming trading day on Tuesday, 16th we expect Sportsman's Warehouse Holdings, Inc. to open at $3.26, and during the day (based on 14 day Average True Range), to move between $2.95 and $3.47, which gives a possible trading interval of +/-$0.258 (+/-8.03%) up or down from last closing price. If Sportsman's Warehouse Holdings, Inc. takes out the full calculated possible swing range there will be an estimated 16.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.13 (2.49%) than the resistance at $3.61 (12.46%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sportsman's Warehouse Holdings, Inc. stock A Buy?
Sportsman's Warehouse Holdings, Inc. holds several negative signals and is within a very wide 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: -3.915 Sell Candidate Unchanged
Predicted Opening Price for Sportsman's Warehouse Holdings, Inc. of Tuesday, April 16, 2024
| Fair opening price April 16, 2024 | Current price |
|---|---|
| $3.26 ( 1.66%) | $3.21 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SPWH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.46 | 7.89 % | |
| R2 | 3.39 | 5.51 % | ||
| R1 | 3.34 | 4.04 % | ||
| Current price: | 3.21 | |||
| Support | S1 | 3.19 | -0.719 % | |
| S2 | 3.14 | -2.19 % | ||
| S3 | 3.06 | -4.57 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.82 | 19.00 % | |
| R2 | 3.79 | 18.07 % | ||
| R1 | 3.61 | 12.46 % | ||
| Current price | 3.21 | |||
| Support | S1 | 3.13 | -2.49% | |
| S2 | 3.11 | -3.12% | ||
| S3 | 3.04 | -5.30% |
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