To The Moon

The Phunware Inc. stock price gained 24.22% on the last trading day (Monday, 21st Oct 2024), rising from $6.77 to $8.41. During the last trading day the stock fluctuated 29.25% from a day low at $6.53 to a day high of $8.44. The price has risen in 8 of the last 10 days and is up by 124.27% 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, 1 million more shares were traded than the day before. In total, 7 million shares were bought and sold for approximately $55.07 million.

Given the current short-term trend, the stock is expected to rise 8.05% during the next 3 months and, with a 90% probability hold a price between $3.32 and $9.09 at the end of this 3-month period.

PHUN Signals & Forecast

Mostly positive signals in the chart today. The Phunware 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 $6.23 and $3.94. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, September 23, 2024, and so far it has risen 192.01%. 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). Volume is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for Phunware Inc. stock

On the downside, the stock finds support just below today's level from accumulated volume at $7.48 and $6.77. 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 $7.48. If this is broken, then the next support from accumulated volume will be at $6.77 and $6.34.

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 $1.91 between high and low, or 29.25%. For the last week, the stock has had daily average volatility of 27.91%.

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: $7.97 (-5.28%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 86 and this increases the risk substantially. There is a buy signal from a pivot bottom found 20 days ago.)

Trading Expectations (PHUN) For The Upcoming Trading Day Of Tuesday 22nd

For the upcoming trading day on Tuesday, 22nd we expect Phunware Inc. to open at $7.79, and during the day (based on 14 day Average True Range), to move between $7.64 and $9.18, which gives a possible trading interval of +/-$0.767 (+/-9.12%) up or down from last closing price. If Phunware Inc. takes out the full calculated possible swing range there will be an estimated 18.23% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $7.48, some $0.93 (11.06%) from the current price of $8.41, 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 81 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.

Is Phunware Inc. stock A Buy?

Phunware Inc. holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.