Is Phunware Inc. stock A Buy?
Phunware Inc. holds several positive signals so we find these to be enough for a consensus as a buy candidate. At the current level, it should be considered as a buy candidate in this position whilst awaiting further development.
Support, Risk & Stop-loss for Phunware Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $5.39 and $5.21. 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, Phunware Inc. finds support just below today's level at $5.39. If this is broken, then the next support from accumulated volume will be at $5.21 and $5.09.
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 "medium risk". During the last day, the stock moved $0.82 between high and low, or 14.14%. For the last week, the stock has had daily average volatility of 21.87%.
The Phunware Inc. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stock may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $6.17 (-2.70%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 90 and this increases the risk substantially. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (PHUN) For The Upcoming Trading Day Of Thursday 17th
For the upcoming trading day on Thursday, 17th we expect Phunware Inc. to open at $6.25, and during the day (based on 14 day Average True Range), to move between $5.77 and $6.91, which gives a possible trading interval of +/-$0.569 (+/-8.98%) up or down from last closing price. If Phunware Inc. takes out the full calculated possible swing range there will be an estimated 17.96% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $5.39, some $0.95 (14.98%) from the current price of $6.34, our system finds the risk reward attractive.
Insiders are Very Positive Buying More Shares Than They Are Selling In Phunware Inc.
In the last 100 trades there were 5.78 million shares bought and 1.72 million shares sold. The last trade was made 76 days ago by Olive Christopher D. who sold 521 shares. The large amount of stocks bought compared to stocks sold indicate that the insiders believe there is a potential good upside. In some cases larger purchases can be explained by due date for stock options.
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