Summit Wireless Technologies Inc. Stock Forecast
High volatility in Summit Wireless Technologies Inc. stock price on Wednesday which ended trading at $0.0212
(Updated on Mar 27, 2024)
The Summit Wireless Technologies Inc. stock price fell by -5.78% on the last day (Wednesday, 27th Mar 2024) from $0.0225 to $0.0212. During the last trading day the stock fluctuated 17.65% from a day low at $0.0204 to a day high of $0.0240. The price has fallen in 6 of the last 10 days and is down by -33.75% for this period. 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 -29 million shares and in total, 42 million shares were bought and sold for approximately $894.84 thousand.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.0154, a level that may pose a second chance to hit a runner. According to fan-theory $0.0284 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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WISA Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Summit Wireless Technologies Inc. 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 $0.0264 and $0.0404. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 05, 2024, and so far it has fallen -53.10%. Further fall is indicated until a new bottom pivot has been found. 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 Summit Wireless Technologies Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.0036 between high and low, or 17.65%. For the last week the stock has had daily average volatility of 13.47%.
Summit Wireless Technologies Inc. is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (WISA) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Summit Wireless Technologies Inc. to open at $0.0219, and during the day (based on 14 day Average True Range), to move between $0.0164 and $0.0260, which gives a possible trading interval of +/-$0.0048 (+/-22.44%) up or down from last closing price. If Summit Wireless Technologies Inc. takes out the full calculated possible swing range there will be an estimated 44.88% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.0225, some $0.0013 (6.13%) from the current price of $0.0212, our system finds the risk reward not very attractive.
Is Summit Wireless Technologies Inc. stock A Buy?
Summit Wireless Technologies Inc. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -7.750 Strong Sell Candidate Unchanged
Predicted Opening Price for Summit Wireless Technologies Inc. of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$0.0219 ( 3.14%) | $0.0212 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WISA
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0255 | 20.13 % | |
R2 | 0.0241 | 13.64 % | ||
R1 | 0.0232 | 9.63 % | ||
Current price: | 0.0212 | |||
Support | S1 | 0.0205 | -3.34 % | |
S2 | 0.0196 | -7.35 % | ||
S3 | 0.0183 | -13.84 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0.0225 | 6.13 % | ||
Current price | 0.0212 | |||
Support | S1 | 0 | . | |
S2 | 0 | . | ||
S3 | 0 | . |
FAQ
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