Astrotech Corporation Stock Forecast

Astrotech Corporation stock upgraded from Hold/Accumulate to Buy Candidate after Monday trading session.
(Updated on Apr 22, 2024)

ASTC Signals & Forecast

A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -9.38%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. Some positive signals were issued as well, and these may have some influence on the near short-term development. The Astrotech Corporation stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $9.51. On a fall, the stock will find some support from the long-term average at approximately $8.87. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal.

Support, Risk & Stop-loss for Astrotech Corporation stock

Astrotech Corporation finds support from accumulated volume at $8.88 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.311 between high and low, or 3.47%. For the last week the stock has had daily average volatility of 3.07%.

Our recommended stop-loss: $8.78 (-5.20%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 10 days ago.)

Trading Expectations (ASTC) For The Upcoming Trading Day Of Tuesday 23rd

For the upcoming trading day on Tuesday, 23rd we expect Astrotech Corporation to open at $9.16, and during the day (based on 14 day Average True Range), to move between $8.84 and $9.68, which gives a possible trading interval of +/-$0.419 (+/-4.52%) up or down from last closing price. If Astrotech Corporation takes out the full calculated possible swing range there will be an estimated 9.05% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $9.55 (3.12%) than the support at $8.88 (4.11%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Astrotech Corporation stock A Buy?

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.941 Buy Candidate Upgraded

Predicted Opening Price for Astrotech Corporation of Tuesday, April 23, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.