Sohu.com Inc. Stock Forecast
Sohu.com Inc. stock downgraded to Buy Candidate
(Updated on Mar 27, 2024)
The Sohu.com Inc. stock price gained 1.05% on the last trading day (Wednesday, 27th Mar 2024), rising from $10.48 to $10.59. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.83% from a day low at $10.41 to a day high of $10.60. The price has risen in 6 of the last 10 days and is up by 1.92% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 11 thousand more shares were traded than the day before. In total, 42 thousand shares were bought and sold for approximately $446.07 thousand.
Given the current short-term trend, the stock is expected to rise 2.57% during the next 3 months and, with a 90% probability hold a price between $9.28 and $10.86 at the end of this 3-month period.
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SOHU Signals & Forecast
Mostly positive signals in the chart today. The Sohu.com Inc. 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 $10.15 and $9.72. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, February 29, 2024, and so far it has risen 18.19%. 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). Sohu.com 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. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Sohu.com Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $9.91 and $9.83. 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, Sohu.com Inc. finds support just below today's level at $9.91. If this is broken, then the next support from accumulated volume will be at $9.83 and $9.67.
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 $0.190 between high and low, or 1.83%. For the last week, the stock has had daily average volatility of 3.59%.
Our recommended stop-loss: $10.03 (-5.30%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 19 days ago.)
Trading Expectations (SOHU) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Sohu.com Inc. to open at $10.53, and during the day (based on 14 day Average True Range), to move between $10.20 and $10.98, which gives a possible trading interval of +/-$0.390 (+/-3.68%) up or down from last closing price. If Sohu.com Inc. takes out the full calculated possible swing range there will be an estimated 7.36% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $9.91, some $0.680 (6.42%) from the current price of $10.59, our system finds the risk reward attractive.
Is Sohu.com Inc. 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 Sohu.com Inc. stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 4.825 Buy Candidate Downgraded
Predicted Opening Price for Sohu.com Inc. of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$10.53 ( 0.535%) | $10.59 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SOHU
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 10.72 | 1.26 % | |
R2 | 10.65 | 0.574 % | ||
R1 | 10.61 | 0.150 % | ||
Current price: | 10.59 | |||
Support | S1 | 10.46 | -1.22 % | |
S2 | 10.42 | -1.64 % | ||
S3 | 10.34 | -2.33 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 10.59 | |||
Support | S1 | 9.91 | -6.42% | |
S2 | 9.83 | -7.18% | ||
S3 | 9.67 | -8.69% |
FAQ
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