Summit Wireless Technologies Inc. Stock Forecast
Volatile ride for Summit Wireless Technologies Inc. stock price on Thursday moving between $5.91 and $7.35
(Updated on Apr 25, 2024)
The Summit Wireless Technologies Inc. stock price gained 1.98% on the last trading day (Thursday, 25th Apr 2024), rising from $6.05 to $6.17. It has now gained 3 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 24.37% from a day low at $5.91 to a day high of $7.35. The price has risen in 7 of the last 10 days and is up by 34177.78% 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, 3 million more shares were traded than the day before. In total, 11 million shares were bought and sold for approximately $67.69 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 71.90% during the next 3 months and, with a 90% probability hold a price between $1.03 and $16.57 at the end of this 3-month period.
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WISA Signals & Forecast
The Summit Wireless Technologies 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 $6.16 and $1.48. 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 Wednesday, April 17, 2024, and so far it has fallen -33.30%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Summit Wireless Technologies Inc. stock
Summit Wireless Technologies Inc. finds support from accumulated volume at $6.10 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 a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $1.44 between high and low, or 24.37%. For the last week, the stock has had daily average volatility of 40.81%.
Our recommended stop-loss: $5.82 (-5.62%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (WISA) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Summit Wireless Technologies Inc. to open at $6.48, and during the day (based on 14 day Average True Range), to move between $4.80 and $7.54, which gives a possible trading interval of +/-$1.37 (+/-22.19%) up or down from last closing price. If Summit Wireless Technologies Inc. takes out the full calculated possible swing range there will be an estimated 44.38% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $6.10, some $0.0700 (1.13%) from the current price of $6.17, our system finds the risk reward attractive.
Is Summit Wireless Technologies 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 Summit Wireless Technologies Inc. stock to perform well in the short-term.
Current score: 4.152 Buy Candidate Unchanged
Predicted Opening Price for Summit Wireless Technologies Inc. of Friday, April 26, 2024
Fair opening price April 26, 2024 | Current price |
---|---|
$6.48 ( 4.97%) | $6.17 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WISA
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 7.92 | 28.31 % | |
R2 | 7.37 | 19.39 % | ||
R1 | 7.03 | 13.89 % | ||
Current price: | 6.17 | |||
Support | S1 | 5.93 | -3.95 % | |
S2 | 5.59 | -9.45 % | ||
S3 | 5.04 | -18.37 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 6.17 | |||
Support | S1 | 6.10 | -1.13% | |
S2 | 6.06 | -1.78% | ||
S3 | 5.89 | -4.54% |
FAQ
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