Xos, Inc. Stock Forecast
Xos, Inc. stock upgraded to Hold/Accumulate.
(Updated on Apr 26, 2024)
The Xos, Inc. stock price fell by -0.395% on the last day (Friday, 26th Apr 2024) from $7.59 to $7.56. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 2.61% from a day low at $7.50 to a day high of $7.70. The price has fallen in 9 of the last 10 days and is down by -14.45% 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 -3 thousand shares and in total, 7 thousand shares were bought and sold for approximately $51.20 thousand.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $7.49 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 3.34% during the next 3 months and, with a 90% probability hold a price between $7.74 and $14.31 at the end of this 3-month period.
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XOS Signals & Forecast
There are mixed signals in the stock today. The Xos, 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 $7.63 and $9.90. A break-up above any of these levels will issue buy signals. 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. The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 1.34%. 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).
Support, Risk & Stop-loss for Xos, Inc. stock
Xos, Inc. finds support from accumulated volume at $7.46 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.196 between high and low, or 2.61%. For the last week the stock has had daily average volatility of 4.00%.
Xos, Inc. is oversold on RSI14 (22). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: $7.10 (-6.13%) (This stock has high daily movements and this gives high risk. Low RSI14 is 22 which reduces the risk some. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (XOS) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Xos, Inc. to open at $7.59, and during the day (based on 14 day Average True Range), to move between $6.97 and $8.15, which gives a possible trading interval of +/-$0.590 (+/-7.80%) up or down from last closing price. If Xos, Inc. takes out the full calculated possible swing range there will be an estimated 15.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.46 (1.32%) than the resistance at $7.67 (1.46%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Xos, Inc. stock A Buy?
Xos, Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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: -0.576 Hold/Accumulate Upgraded
Predicted Opening Price for Xos, Inc. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $7.59 ( 0.369%) | $7.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XOS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.78 | 2.96 % | |
| R2 | 7.71 | 1.97 % | ||
| R1 | 7.66 | 1.36 % | ||
| Current price: | 7.56 | |||
| Support | S1 | 7.51 | -0.623 % | |
| S2 | 7.47 | -1.24 % | ||
| S3 | 7.39 | -2.23 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.65 | 14.42 % | |
| R2 | 8.54 | 12.96 % | ||
| R1 | 7.67 | 1.46 % | ||
| Current price | 7.56 | |||
| Support | S1 | 7.46 | -1.32% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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