The ONE Group Hospitality Stock Forecast
The ONE Group Hospitality stock price ended at $5.14 on Wednesday, after losing 4.10%.
(Updated on May 01, 2024)
The The ONE Group Hospitality stock price fell by -4.10% on the last day (Wednesday, 1st May 2024) from $5.36 to $5.14. During the last trading day the stock fluctuated 5.42% from a day low at $5.08 to a day high of $5.35. The price has fallen in 6 of the last 10 days and is down by -3.02% for this period. Volume has increased on the last day by 18 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, 156 thousand shares were bought and sold for approximately $802.46 thousand.
The stock lies in the middle of a very 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 50.26% during the next 3 months and, with a 90% probability hold a price between $7.05 and $9.57 at the end of this 3-month period.
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STKS Signals & Forecast
The The ONE Group Hospitality stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $5.32. On a fall, the stock will find some support from the long-term average at approximately $5.06. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Tuesday, April 09, 2024, and so far it has fallen -11.53%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The ONE Group Hospitality 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 The ONE Group Hospitality stock
The ONE Group Hospitality finds support from accumulated volume at $5.07 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.275 between high and low, or 5.42%. For the last week, the stock has had daily average volatility of 5.06%.
Our recommended stop-loss: $4.93 (-4.16%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 16 days ago.)
Trading Expectations (STKS) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect The ONE Group Hospitality to open at $5.19, and during the day (based on 14 day Average True Range), to move between $4.84 and $5.44, which gives a possible trading interval of +/-$0.304 (+/-5.92%) up or down from last closing price. If The ONE Group Hospitality takes out the full calculated possible swing range there will be an estimated 11.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.07 (1.36%) than the resistance at $5.57 (8.37%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
The ONE Group Hospitality will release earnings BMO on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.0200. We will update the financials statements for The ONE Group Hospitality, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.35% in the first trading day after earnings release.
Is The ONE Group Hospitality stock A Buy?
The ONE Group Hospitality 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: 0.732 Hold/Accumulate Unchanged
Predicted Opening Price for The ONE Group Hospitality of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $5.19 ( 0.94%) | $5.14 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for STKS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.46 | 6.29 % | |
| R2 | 5.36 | 4.25 % | ||
| R1 | 5.29 | 2.98 % | ||
| Current price: | 5.14 | |||
| Support | S1 | 5.08 | -1.10 % | |
| S2 | 5.02 | -2.37 % | ||
| S3 | 4.91 | -4.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.73 | 11.48 % | |
| R2 | 5.59 | 8.75 % | ||
| R1 | 5.57 | 8.37 % | ||
| Current price | 5.14 | |||
| Support | S1 | 5.07 | -1.36% | |
| S2 | 3.97 | -22.76% | ||
| S3 | 3.94 | -23.35% |
FAQ
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