StoneCo Stock Forecast
StoneCo stock upgraded to Buy Candidate.
(Updated on May 07, 2024)
The StoneCo stock price gained 0.417% on the last trading day (Tuesday, 7th May 2024), rising from $16.80 to $16.87. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.92% from a day low at $16.68 to a day high of $17.00. The price has risen in 7 of the last 10 days and is up by 6.91% 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, 152 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $50.15 million.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $17.19 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -7.59% during the next 3 months and, with a 90% probability hold a price between $13.79 and $15.89 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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STNE Signals & Forecast
Mostly positive signals in the chart today. The StoneCo 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 $16.31 and $16.24. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 10.62%. 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 StoneCo stock
StoneCo finds support from accumulated volume at $16.64 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 $0.320 between high and low, or 1.92%. For the last week, the stock has had daily average volatility of 3.06%.
Our recommended stop-loss: $16.15 (-4.29%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (STNE) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect StoneCo Ltd. to open at $16.85, and during the day (based on 14 day Average True Range), to move between $16.27 and $17.47, which gives a possible trading interval of +/-$0.596 (+/-3.53%) up or down from last closing price. If StoneCo Ltd. takes out the full calculated possible swing range there will be an estimated 7.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $17.02 (0.89%) than the support at $16.64 (1.36%), 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.
Earnings coming up
StoneCo will release earnings AMC on Wednesday, May 15, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.270. We will update the financials statements for StoneCo, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.35% in the first trading day after earnings release.
Is StoneCo Ltd. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.599 Buy Candidate Upgraded
Predicted Opening Price for StoneCo Ltd. of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $16.85 ( 0.119%) | $16.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for STNE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.17 | 1.78 % | |
| R2 | 17.05 | 1.05 % | ||
| R1 | 16.97 | 0.606 % | ||
| Current price: | 16.87 | |||
| Support | S1 | 16.73 | -0.84 % | |
| S2 | 16.65 | -1.29 % | ||
| S3 | 16.53 | -2.02 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.11 | 7.35 % | |
| R2 | 17.28 | 2.43 % | ||
| R1 | 17.02 | 0.89 % | ||
| Current price | 16.87 | |||
| Support | S1 | 16.64 | -1.36% | |
| S2 | 16.32 | -3.26% | ||
| S3 | 16.27 | -3.56% |
FAQ
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