Weave Communications, Inc. Stock Forecast
Weave Communications, Inc. stock price ended at $8.88 on Friday, after losing 1.33%.
(Updated on May 10, 2024)
The Weave Communications, Inc. stock price fell by -1.33% on the last day (Friday, 10th May 2024) from $9.00 to $8.88. During the last trading day the stock fluctuated 2.72% from a day low at $8.81 to a day high of $9.05. The price has fallen in 6 of the last 10 days and is down by -21.62% for this period. Volume has increased on the last day by 151 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, 524 thousand shares were bought and sold for approximately $4.65 million.
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 -21.32% during the next 3 months and, with a 90% probability hold a price between $6.36 and $8.64 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
WEAV Signals & Forecast
There are mixed signals in the stock today. The Weave Communications, 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 $10.82. On a fall, the stock will find some support from the short-term average at $8.74. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. A buy signal was issued from a pivot bottom point on Friday, May 03, 2024, and so far it has risen 6.73%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Weave Communications, Inc. stock
Weave Communications, Inc. finds support from accumulated volume at $8.65 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.240 between high and low, or 2.72%. For the last week, the stock has had daily average volatility of 4.30%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (WEAV) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Weave Communications, Inc. to open at $8.91, and during the day (based on 14 day Average True Range), to move between $8.35 and $9.41, which gives a possible trading interval of +/-$0.530 (+/-5.97%) up or down from last closing price. If Weave Communications, Inc. takes out the full calculated possible swing range there will be an estimated 11.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $9.01 (1.46%) than the support at $8.65 (2.59%), 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 Weave Communications, Inc. stock A Buy?
Weave Communications, 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: -3.426 Sell Candidate Unchanged
Predicted Opening Price for Weave Communications, Inc. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $8.91 ( 0.375%) | $8.88 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WEAV
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.15 | 3.08 % | |
| R2 | 9.06 | 2.05 % | ||
| R1 | 9.01 | 1.41 % | ||
| Current price: | 8.88 | |||
| Support | S1 | 8.82 | -0.657 % | |
| S2 | 8.77 | -1.29 % | ||
| S3 | 8.67 | -2.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.91 | 22.86 % | |
| R2 | 10.64 | 19.82 % | ||
| R1 | 9.01 | 1.46 % | ||
| Current price | 8.88 | |||
| Support | S1 | 8.65 | -2.59% | |
| S2 | 8.33 | -6.19% | ||
| S3 | 8.32 | -6.31% |
FAQ
Click here for our free guide on how to buy Weave Communications, Inc. Stock.
