SNN Price Prediction Next Week
Prediction for Smith & Nephew (SNN) Stock Price Next Trading Week
Based on the analysis of news sentiment, technical indicators, and market trends, here is the prediction for Smith & Nephew (SNN) stock price for the next trading week:
News Sentiment and Fundamental Analysis:
- Company Strategy Shift: Smith & Nephew is considering a potential break-up of the company due to activist pressure, particularly regarding its struggling orthopedics division. This has introduced uncertainty but also potential restructuring benefits.
- Analyst Ratings: Barclays analyst Hassan Al-Wakeel has maintained a Hold rating on Smith & Nephew with a price target of £11.70, while the stock has a consensus Moderate Buy rating and a higher price target of £1,234.50.
- Market Response: Following reports of a potential shake-up, Smith & Nephew's shares rose approximately 1%, despite a 10% decline over the past year attributed to supply issues and leadership changes.
Technical Indicators Analysis:
- RSI (14): 73.13 (Overbought territory, suggesting a potential pullback).
- MACD: 1.24 (Positive but flattening histogram, indicating weakening momentum).
- Bollinger Bands: The stock is trading near the upper band, signaling potential volatility.
- Fibonacci Levels: Resistance at 30.17 and 31.20, with support at 25.81 and 24.14.
Price Prediction:
- Target Price: The stock is expected to rise to £30.50 next week but may face resistance at the Fibonacci R1 level of £30.17.
- Price Movement: A potential pullback to £28.50 is anticipated after hitting resistance, driven by overbought conditions and weakening momentum.
Buy/Sell Recommendation:
- Sell: The stock is expected to peak at £30.50 before correcting. Investors should consider selling at the resistance level to lock in profits.
SNN Similar Chart Price Prediction
The price of SNN is predicted to go up 0.77%, based on the high correlation periods with ZBRA. The similarity of these two price pattern on the periods is 98.8%.
SNN
ZBRA
Up: 0.77%Similarity: 98.8%
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SNN VS S&P500
Smith & Nephew participates in the fast-growing sports medicine arena thanks to its extensive arthroscopy portfolio.
A strong arthroscopy presence in ambulatory surgical centers leaves Smith & Nephew well positioned to expand its large joint presence in that setting.
Smith & Nephew has been building out its presence in emerging markets. Considering the obstacles in developed markets that keep it from transforming into a top-tier player, S&N may enjoy greater upside in developing markets.
