Sleep Number Corporation Stock Forecast
Volatile ride for Sleep Number Corporation stock price on Tuesday moving between $13.12 and $14.80
(Updated on Apr 23, 2024)
The Sleep Number Corporation stock price gained 10.52% on the last trading day (Tuesday, 23rd Apr 2024), rising from $13.21 to $14.60. During the last trading day the stock fluctuated 12.80% from a day low at $13.12 to a day high of $14.80. The price has been going up and down for this period, and there has been a 0.48% gain 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, 624 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $16.94 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 25.54% during the next 3 months and, with a 90% probability hold a price between $15.88 and $23.75 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
SNBR Signals & Forecast
The Sleep Number Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $13.43 and $14.40. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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 Friday, March 08, 2024, and so far it has fallen -14.07%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Sleep Number Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $13.53 and $12.96. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Sleep Number Corporation finds support just below today's level at $13.53. If this is broken, then the next support from accumulated volume will be at $12.96 and $11.05.
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 $1.68 between high and low, or 12.80%. For the last week, the stock has had daily average volatility of 7.02%.
Our recommended stop-loss: $13.74 (-5.92%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 31 days ago.)
Trading Expectations (SNBR) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Sleep Number Corporation to open at $14.17, and during the day (based on 14 day Average True Range), to move between $13.67 and $15.53, which gives a possible trading interval of +/-$0.93 (+/-6.35%) up or down from last closing price. If Sleep Number Corporation takes out the full calculated possible swing range there will be an estimated 12.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $14.70 (0.68%) than the support at $13.53 (7.33%), 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
Sleep Number Corporation will release earnings AMC on Wednesday, April 24, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.410. We will update the financials statements for Sleep Number Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.48% in the first trading day after earnings release.
Is Sleep Number Corporation 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 Sleep Number Corporation stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.107 Buy Candidate Upgraded
Predicted Opening Price for Sleep Number Corporation of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $14.17 ( 2.92%) | $14.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SNBR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.85 | 8.58 % | |
| R2 | 15.21 | 4.19 % | ||
| R1 | 14.82 | 1.47 % | ||
| Current price: | 14.60 | |||
| Support | S1 | 13.53 | -7.32 % | |
| S2 | 13.14 | -10.03 % | ||
| S3 | 12.49 | -14.43 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.78 | 14.93 % | |
| R2 | 16.52 | 13.15 % | ||
| R1 | 14.70 | 0.685 % | ||
| Current price | 14.60 | |||
| Support | S1 | 13.53 | -7.33% | |
| S2 | 12.96 | -11.23% | ||
| S3 | 11.05 | -24.32% |
FAQ
Click here for our free guide on how to buy Sleep Number Corporation Stock.
