Socket Mobile, Inc Stock Forecast
Green day on Friday for Socket Mobile, Inc stock after gaining 0.98%
(Updated on Apr 19, 2024)
The Socket Mobile, Inc stock price gained 0.98% on the last trading day (Friday, 19th Apr 2024), rising from $1.02 to $1.03. During the last trading day the stock fluctuated 5.88% from a day low at $1.02 to a day high of $1.08. The price has been going up and down for this period, and there has been a -3.75% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 thousand more shares were traded than the day before. In total, 7 thousand shares were bought and sold for approximately $7.11 thousand.
The stock lies in the middle of a 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 -7.24% during the next 3 months and, with a 90% probability hold a price between $0.89 and $1.01 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.
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SCKT Signals & Forecast
Socket Mobile, 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. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Socket Mobile, Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $1.05 and $1.04. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 16, 2024, and so far it has fallen -5.50%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Socket Mobile, Inc stock
Socket Mobile, Inc finds support from accumulated volume at $1.02 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.0600 between high and low, or 5.88%. For the last week, the stock has had daily average volatility of 5.12%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SCKT) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Socket Mobile, Inc to open at $1.04, and during the day (based on 14 day Average True Range), to move between $0.99 and $1.07, which gives a possible trading interval of +/-$0.0423 (+/-4.11%) up or down from last closing price. If Socket Mobile, Inc takes out the full calculated possible swing range there will be an estimated 8.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.04 (0.97%) than the support at $1.02 (0.97%), 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.
Earnings coming up
Socket Mobile, Inc will release earnings BMO on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.0500. We will update the financials statements for Socket Mobile, Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.75% in the first trading day after earnings release.
Is Socket Mobile, Inc stock A Buy?
Socket Mobile, Inc holds several negative signals and is within a 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: -4.302 Sell Candidate Unchanged
Predicted Opening Price for Socket Mobile, Inc of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $1.04 ( 1.29%) | $1.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SCKT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.10 | 7.12 % | |
| R2 | 1.08 | 4.89 % | ||
| R1 | 1.07 | 3.52 % | ||
| Current price: | 1.03 | |||
| Support | S1 | 1.02 | -0.93 % | |
| S2 | 1.01 | -2.31 % | ||
| S3 | 0.98 | -4.53 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.09 | 5.83 % | |
| R2 | 1.05 | 1.94 % | ||
| R1 | 1.04 | 0.97 % | ||
| Current price | 1.03 | |||
| Support | S1 | 1.02 | -0.97% | |
| S2 | 1.01 | -2.43% | ||
| S3 | 1.00 | -2.91% |
FAQ
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