Smith & Wesson Holding Corp Stock Forecast
Volatile ride for Smith & Wesson Holding Corp stock price on Wednesday moving between $13.77 and $15.44
(Updated on Jun 03, 2020)
The Smith & Wesson Holding Corp stock price fell by -6.87% on the last day (Wednesday, 3rd Jun 2020) from $14.99 to $13.96. During the last trading day the stock fluctuated 12.13% from a day low at $13.77 to a day high of $15.44. The price has risen in 6 of the last 10 days and is up by 36.59% 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 -3 million shares and in total, 4 million shares were bought and sold for approximately $49.05 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 39.80% during the next 3 months and, with a 90% probability hold a price between $13.69 and $21.05 at the end of this 3-month period.
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AOBC Signals & Forecast
The Smith & Wesson Holding Corp stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $12.32 and $10.10. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, June 02, 2020, and so far it has fallen -6.87%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Smith & Wesson Holding Corp stock
Smith & Wesson Holding Corp finds support from accumulated volume at $13.61 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.67 between high and low, or 12.13%. For the last week the stock has had daily average volatility of 12.36%.
Our recommended stop-loss: $12.98 (-6.99%) (This stock has low daily movements and this gives low risk. The RSI14 is 80 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (AOBC) For The Upcoming Trading Day Of Thursday 4th
For the upcoming trading day on Thursday, 4th we expect Smith & Wesson Holding Corp to open at $14.39, and during the day (based on 14 day Average True Range), to move between $12.98 and $14.94, which gives a possible trading interval of +/-$0.98 (+/-7.03%) up or down from last closing price. If Smith & Wesson Holding Corp takes out the full calculated possible swing range there will be an estimated 14.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $13.61 (2.51%) than the resistance at $14.99 (7.38%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Smith & Wesson Holding Corp stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Smith & Wesson Holding Corp stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.194 Buy Candidate Upgraded
Predicted Opening Price for Smith & Wesson Holding Corp of Thursday, June 4, 2020
Fair opening price June 4, 2020 | Current price |
---|---|
$14.39 ( 3.08%) | $13.96 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AOBC
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 16.06 | 15.04 % | |
R2 | 15.42 | 10.47 % | ||
R1 | 15.03 | 7.65 % | ||
Current price: | 13.96 | |||
Support | S1 | 13.75 | -1.49 % | |
S2 | 13.36 | -4.31 % | ||
S3 | 12.72 | -8.88 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 14.99 | 7.38 % | ||
Current price | 13.96 | |||
Support | S1 | 13.61 | -2.51% | |
S2 | 11.82 | -15.33% | ||
S3 | 10.79 | -22.71% |
FAQ
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