Smith Micro Software Stock Forecast
High volatility in Smith Micro Software stock price on Wednesday which ended trading at $1.95
(Updated on Apr 17, 2024)
The Smith Micro Software stock price gained 0.552% on the last trading day (Wednesday, 17th Apr 2024), rising from $1.94 to $1.95. During the last trading day the stock fluctuated 10.53% from a day low at $1.90 to a day high of $2.10. The price has fallen in 7 of the last 10 days but is still up by 472.86% over the past 2 weeks. Volume fell on the last day by -3 thousand shares and in total, 43 thousand shares were bought and sold for approximately $84.11 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and weak 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 2.91% during the next 3 months and, with a 90% probability hold a price between $0.317 and $2.43 at the end of this 3-month period.
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SMSI Signals & Forecast
The Smith Micro Software 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 $1.57 and $0.598. 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 Thursday, April 11, 2024, and so far it has fallen -17.37%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Smith Micro Software stock
Smith Micro Software finds support from accumulated volume at $1.94 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 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 $0.200 between high and low, or 10.53%. For the last week the stock has had daily average volatility of 12.02%.
Our recommended stop-loss: $1.85 (-4.88%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 81 and this increases the risk substantially. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (SMSI) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Smith Micro Software to open at $1.98, and during the day (based on 14 day Average True Range), to move between $1.76 and $2.14, which gives a possible trading interval of +/-$0.193 (+/-9.89%) up or down from last closing price. If Smith Micro Software takes out the full calculated possible swing range there will be an estimated 19.78% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.96 (0.51%) than the support at $1.94 (0.55%), 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 Smith Micro Software 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 Micro Software stock to perform well in the short-term.
Current score: 1.337 Buy Candidate Unchanged
Predicted Opening Price for Smith Micro Software of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $1.98 ( 1.71%) | $1.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SMSI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.18 | 11.97 % | |
| R2 | 2.11 | 8.05 % | ||
| R1 | 2.06 | 5.63 % | ||
| Current price: | 1.95 | |||
| Support | S1 | 1.91 | -2.21 % | |
| S2 | 1.86 | -4.63 % | ||
| S3 | 1.78 | -8.55 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.36 | 21.03 % | |
| R2 | 2.15 | 10.26 % | ||
| R1 | 1.96 | 0.513 % | ||
| Current price | 1.95 | |||
| Support | S1 | 1.94 | -0.549% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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