Squarespace, Inc. Stock Forecast
Squarespace, Inc. stock upgraded from Sell Candidate to Strong Buy Candidate after Friday trading session.
(Updated on May 10, 2024)
The Squarespace, Inc. stock price gained 3.72% on the last trading day (Friday, 10th May 2024), rising from $36.82 to $38.19. During the last trading day the stock fluctuated 3.46% from a day low at $37.02 to a day high of $38.30. The price has risen in 7 of the last 10 days and is up by 7.49% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 335 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $45.17 million.
The stock lies in the middle of a wide and strong 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 15.03% during the next 3 months and, with a 90% probability hold a price between $40.01 and $45.48 at the end of this 3-month period.
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SQSP Signals & Forecast
Mostly positive signals in the chart today. The Squarespace, 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 $36.39 and $36.04. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 11.67%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Squarespace, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $33.73 and $33.40. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Squarespace, Inc. finds support just below today's level at $33.73. If this is broken, then the next support from accumulated volume will be at $33.40 and $32.38.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.28 between high and low, or 3.46%. For the last week, the stock has had daily average volatility of 4.14%.
Our recommended stop-loss: $36.78 (-3.70%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (SQSP) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Squarespace, Inc. to open at $37.84, and during the day (based on 14 day Average True Range), to move between $37.02 and $39.36, which gives a possible trading interval of +/-$1.17 (+/-3.07%) up or down from last closing price. If Squarespace, Inc. takes out the full calculated possible swing range there will be an estimated 6.13% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $33.73, some $4.46 (11.68%) from the current price of $38.19, our system finds the risk reward attractive.
Is Squarespace, Inc. stock A Buy?
Squarespace, 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 Sell to a Strong Buy candidate.
Current score: 6.139 Strong Buy Candidate Upgraded
Predicted Opening Price for Squarespace, Inc. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $37.84 ( 0.93%) | $38.19 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SQSP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 39.12 | 2.43 % | |
| R2 | 38.63 | 1.15 % | ||
| R1 | 38.33 | 0.355 % | ||
| Current price: | 38.19 | |||
| Support | S1 | 37.35 | -2.21 % | |
| S2 | 37.05 | -3.00 % | ||
| S3 | 36.56 | -4.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 38.19 | |||
| Support | S1 | 33.73 | -11.68% | |
| S2 | 33.40 | -12.54% | ||
| S3 | 32.38 | -15.21% |
FAQ
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