ThredUp Inc. Stock Forecast
ThredUp Inc. stock price ended at $1.64 on Wednesday, after gaining 2.50%.
(Updated on May 01, 2024)
The ThredUp Inc. stock price gained 2.50% on the last trading day (Wednesday, 1st May 2024), rising from $1.60 to $1.64. During the last trading day the stock fluctuated 7.30% from a day low at $1.58 to a day high of $1.69. The price has risen in 6 of the last 10 days and is up by 7.19% 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, 182 thousand more shares were traded than the day before. In total, 418 thousand shares were bought and sold for approximately $685.93 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 -18.80% during the next 3 months and, with a 90% probability hold a price between $1.18 and $1.66 at the end of this 3-month period.
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TDUP Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 7.19%. 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). ThredUp Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The ThredUp Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $1.77. On a fall, the stock will find some support from the short-term average at $1.63. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for ThredUp Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.55 and $1.54. 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, ThredUp Inc. finds support just below today's level at $1.55. If this is broken, then the next support from accumulated volume will be at $1.54 and $1.53.
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 $0.115 between high and low, or 7.30%. For the last week, the stock has had daily average volatility of 6.33%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TDUP) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect ThredUp Inc. to open at $1.64, and during the day (based on 14 day Average True Range), to move between $1.55 and $1.73, which gives a possible trading interval of +/-$0.0945 (+/-5.76%) up or down from last closing price. If ThredUp Inc. takes out the full calculated possible swing range there will be an estimated 11.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.55 (5.49%) than the resistance at $1.86 (13.41%), 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
ThredUp Inc. will release earnings BMO on Monday, May 06, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.140. We will update the financials statements for ThredUp Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 12.44% in the first trading day after earnings release.
Is ThredUp Inc. stock A Buy?
ThredUp Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.613 Sell Candidate Unchanged
Predicted Opening Price for ThredUp Inc. of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $1.64 ( 0.305%) | $1.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TDUP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.75 | 6.71 % | |
| R2 | 1.71 | 4.03 % | ||
| R1 | 1.68 | 2.37 % | ||
| Current price: | 1.64 | |||
| Support | S1 | 1.59 | -2.98 % | |
| S2 | 1.56 | -4.64 % | ||
| S3 | 1.52 | -7.32 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.00 | 21.95 % | |
| R2 | 1.97 | 20.12 % | ||
| R1 | 1.86 | 13.41 % | ||
| Current price | 1.64 | |||
| Support | S1 | 1.55 | -5.49% | |
| S2 | 1.54 | -6.10% | ||
| S3 | 1.53 | -6.71% |
FAQ
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