Surf Air Mobility Inc. Stock Forecast
Big movements in Surf Air Mobility Inc. stock price on Tuesday moving 14.29% between high and low
(Updated on May 21, 2024)
The Surf Air Mobility Inc. stock price fell by -5.07% on the last day (Tuesday, 21st May 2024) from $0.391 to $0.371. During the last trading day the stock fluctuated 14.29% from a day low at $0.350 to a day high of $0.400. The price has been going up and down for this period, and there has been a -11.74% loss for the last 2 weeks. Volume has increased on the last day by 64 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 504 thousand shares were bought and sold for approximately $186.93 thousand.
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 -62.95% during the next 3 months and, with a 90% probability hold a price between $0.0252 and $0.179 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.
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SRFM 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 Surf Air Mobility Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.416 and $0.530. 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 19, 2024, and so far it has fallen -34.96%. Further fall is indicated until a new bottom pivot has been found. Surf Air Mobility Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Surf Air Mobility Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.0500 between high and low, or 14.29%. For the last week, the stock has had daily average volatility of 10.99%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SRFM) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect Surf Air Mobility Inc. to open at $0.374, and during the day (based on 14 day Average True Range), to move between $0.306 and $0.435, which gives a possible trading interval of +/-$0.0645 (+/-17.40%) up or down from last closing price. If Surf Air Mobility Inc. takes out the full calculated possible swing range there will be an estimated 34.81% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.386, some $0.0152 (4.10%) from the current price of $0.371, our system finds the risk reward not very attractive.
Is Surf Air Mobility Inc. stock A Buy?
Surf Air Mobility 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: -5.964 Strong Sell Candidate Unchanged
Predicted Opening Price for Surf Air Mobility Inc. of Wednesday, May 22, 2024
| Fair opening price May 22, 2024 | Current price |
|---|---|
| $0.374 ( 0.773%) | $0.371 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SRFM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.424 | 14.26 % | |
| R2 | 0.404 | 9.11 % | ||
| R1 | 0.393 | 5.93 % | ||
| Current price: | 0.371 | |||
| Support | S1 | 0.354 | -4.38 % | |
| S2 | 0.343 | -7.56 % | ||
| S3 | 0.324 | -12.71 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.440 | 18.69 % | |
| R2 | 0.391 | 5.34 % | ||
| R1 | 0.386 | 4.10 % | ||
| Current price | 0.371 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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