Sportsman's Warehouse Holdings, Inc. Stock Forecast
Evaluation of Sportsman's Warehouse Holdings, Inc. stock downgraded after the last trading session.
(Updated on Apr 24, 2024)
The Sportsman's Warehouse Holdings, Inc. stock price fell by -2.62% on the last day (Wednesday, 24th Apr 2024) from $3.44 to $3.35. During the last trading day the stock fluctuated 6.60% from a day low at $3.18 to a day high of $3.39. The price has fallen in 7 of the last 10 days and is down by -2.33% for this period. Volume has increased on the last day by 100 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 390 thousand shares were bought and sold for approximately $1.31 million.
The stock lies in the middle of a very 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 -18.91% during the next 3 months and, with a 90% probability hold a price between $2.07 and $2.95 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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SPWH Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -12.30%. 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). Sportsman's Warehouse Holdings, Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The Sportsman's Warehouse Holdings, 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 $3.25 and $3.23. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Sportsman's Warehouse Holdings, Inc. stock
Sportsman's Warehouse Holdings, Inc. finds support from accumulated volume at $3.20 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.210 between high and low, or 6.60%. For the last week, the stock has had daily average volatility of 6.63%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SPWH) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Sportsman's Warehouse Holdings, Inc. to open at $3.31, and during the day (based on 14 day Average True Range), to move between $3.12 and $3.58, which gives a possible trading interval of +/-$0.234 (+/-7.00%) up or down from last closing price. If Sportsman's Warehouse Holdings, Inc. takes out the full calculated possible swing range there will be an estimated 13.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.20 (4.48%) than the resistance at $3.61 (7.76%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sportsman's Warehouse Holdings, Inc. stock A Buy?
Sportsman's Warehouse Holdings, Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.335 Sell Candidate Downgraded
Predicted Opening Price for Sportsman's Warehouse Holdings, Inc. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $3.31 ( 1.29%) | $3.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SPWH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.52 | 4.98 % | |
| R2 | 3.44 | 2.58 % | ||
| R1 | 3.39 | 1.10 % | ||
| Current price: | 3.35 | |||
| Support | S1 | 3.23 | -3.69 % | |
| S2 | 3.18 | -5.17 % | ||
| S3 | 3.10 | -7.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.82 | 14.03 % | |
| R2 | 3.79 | 13.13 % | ||
| R1 | 3.61 | 7.76 % | ||
| Current price | 3.35 | |||
| Support | S1 | 3.20 | -4.48% | |
| S2 | 3.13 | -6.57% | ||
| S3 | 3.08 | -8.06% |
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