Swvl Holdings Corp. Stock Forecast
Big movements in Swvl Holdings Corp. stock price on Monday moving 15.16% between high and low
(Updated on Apr 29, 2024)
The Swvl Holdings Corp. stock price fell by -6.90% on the last day (Monday, 29th Apr 2024) from $10.87 to $10.12. During the last trading day the stock fluctuated 15.16% from a day low at $9.50 to a day high of $10.94. The price has risen in 6 of the last 10 days and is up by 24.78% 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 -6 thousand shares and in total, 27 thousand shares were bought and sold for approximately $273.99 thousand.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $8.92 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 110.42% during the next 3 months and, with a 90% probability hold a price between $18.76 and $41.84 at the end of this 3-month period.
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SWVL Signals & Forecast
There are few to no technical positive signals at the moment. The Swvl Holdings Corp. 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 $10.90 and $11.34. 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 -41.13%. 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). 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 Swvl Holdings Corp. stock
On the downside, the stock finds support just below today's level from accumulated volume at $9.48 and $9.30. 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, Swvl Holdings Corp. finds support just below today's level at $9.48. If this is broken, then the next support from accumulated volume will be at $9.30 and $8.11.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $1.44 between high and low, or 15.16%. For the last week the stock has had daily average volatility of 12.84%.
Our recommended stop-loss: $9.48 (-6.28%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 16 days ago.)
Trading Expectations (SWVL) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect Swvl Holdings Corp. to open at $10.19, and during the day (based on 14 day Average True Range), to move between $8.01 and $12.23, which gives a possible trading interval of +/-$2.11 (+/-20.87%) up or down from last closing price. If Swvl Holdings Corp. takes out the full calculated possible swing range there will be an estimated 41.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $10.43 (3.06%) than the support at $9.48 (6.32%), 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.
Is Swvl Holdings Corp. stock A Buy?
Swvl Holdings Corp. 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.762 Hold/Accumulate Upgraded
Predicted Opening Price for Swvl Holdings Corp. of Tuesday, April 30, 2024
| Fair opening price April 30, 2024 | Current price |
|---|---|
| $10.19 ( 0.659%) | $10.12 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SWVL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.63 | 14.89 % | |
| R2 | 11.08 | 9.45 % | ||
| R1 | 10.74 | 6.09 % | ||
| Current price: | 10.12 | |||
| Support | S1 | 9.64 | -4.78 % | |
| S2 | 9.30 | -8.13 % | ||
| S3 | 8.75 | -13.57 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.05 | 9.19 % | |
| R2 | 10.95 | 8.20 % | ||
| R1 | 10.43 | 3.06 % | ||
| Current price | 10.12 | |||
| Support | S1 | 9.48 | -6.32% | |
| S2 | 9.30 | -8.10% | ||
| S3 | 8.11 | -19.86% |
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