Applied Optoelectronics Stock Forecast
Applied Optoelectronics stock upgraded to Sell Candidate.
(Updated on Apr 26, 2024)
The Applied Optoelectronics stock price gained 1.78% on the last trading day (Friday, 26th Apr 2024), rising from $10.66 to $10.85. During the last trading day the stock fluctuated 6.30% from a day low at $10.80 to a day high of $11.48. The price has fallen in 6 of the last 10 days and is down by -3.38% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 196 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $16.20 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $10.52 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -36.61% during the next 3 months and, with a 90% probability hold a price between $6.67 and $9.75 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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AAOI Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 1.78%. Further rise is indicated until a new top pivot has been found. 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. The Applied Optoelectronics stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $11.22 and $12.86. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Applied Optoelectronics stock
Applied Optoelectronics finds support from accumulated volume at $10.66 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.680 between high and low, or 6.30%. For the last week, the stock has had daily average volatility of 6.92%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AAOI) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Applied Optoelectronics to open at $11.04, and during the day (based on 14 day Average True Range), to move between $9.97 and $11.73, which gives a possible trading interval of +/-$0.88 (+/-8.12%) up or down from last closing price. If Applied Optoelectronics takes out the full calculated possible swing range there will be an estimated 16.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $10.66 (1.75%) than the resistance at $11.13 (2.58%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Applied Optoelectronics stock A Buy?
Applied Optoelectronics holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -2.281 Sell Candidate Upgraded
Predicted Opening Price for Applied Optoelectronics of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $11.04 ( 1.78%) | $10.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AAOI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.72 | 8.05 % | |
| R2 | 11.46 | 5.66 % | ||
| R1 | 11.30 | 4.18 % | ||
| Current price: | 10.85 | |||
| Support | S1 | 10.78 | -0.612 % | |
| S2 | 10.62 | -2.09 % | ||
| S3 | 10.36 | -4.49 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.98 | 10.41 % | |
| R2 | 11.66 | 7.47 % | ||
| R1 | 11.13 | 2.58 % | ||
| Current price | 10.85 | |||
| Support | S1 | 10.66 | -1.75% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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