Sable Offshore Corp (SOC) has shown strong upward momentum recently, with a 39.09% increase in its stock price. The stock is currently trading near its Fibonacci pivot level of $25.01, with resistance levels at $27.67 and $29.31. The recent options activity, particularly the high volume in the $40 strike call option, suggests bullish sentiment among investors.
The Fibonacci levels for SOC indicate key support and resistance points. The stock is currently testing the first resistance level at $27.67, with the next target at $29.31. The pivot level at $25.01 provides strong support, suggesting a potential bounce if the stock retraces.
The recent news highlights SOC as one of the top mid-cap gainers, driven by positive market sentiment and strong financial performance. The high options activity, with 21,431 contracts traded, indicates increased investor interest and confidence in the stock's upward movement.
Based on the technical indicators, Fibonacci levels, and positive news sentiment, SOC is expected to reach the $27.67 resistance level next week. The stock price is projected to be around $27.50.
Buy Sable Offshore Corp (SOC) as the stock is likely to continue its upward trend, targeting the $27.67 resistance level. The strong options activity and positive news sentiment further support this recommendation.
The price of SOC is predicted to go up -7.15%, based on the high correlation periods with STHO. The similarity of these two price pattern on the periods is 95.08%.
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