Avepoint Inc - Class A Stock Forecast
Avepoint Inc - Class A stock price ended at $7.92 on Tuesday, after gaining 2.33%.
(Updated on Apr 23, 2024)
The Avepoint Inc - Class A stock price gained 2.33% on the last trading day (Tuesday, 23rd Apr 2024), rising from $7.74 to $7.92. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.06% from a day low at $7.78 to a day high of $7.94. The price has fallen in 6 of the last 10 days and is down by -2.82% for this period. Volume fell on the last day by -16 thousand shares and in total, 420 thousand shares were bought and sold for approximately $3.33 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Avepoint Inc - Class A stock with a 90% probability to be traded between $7.41 and $8.42 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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AVPT Signals & Forecast
The Avepoint Inc - Class A stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $7.75 and $7.83. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 3.13%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Avepoint Inc - Class A stock
Avepoint Inc - Class A finds support from accumulated volume at $7.91 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.160 (2.06%) between high and low. For the last week, the stock has had daily average volatility of 2.23%.
Our recommended stop-loss: $7.57 (-4.38%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (AVPT) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Avepoint Inc - Class A to open at $7.88, and during the day (based on 14 day Average True Range), to move between $7.70 and $8.14, which gives a possible trading interval of +/-$0.216 (+/-2.72%) up or down from last closing price. If Avepoint Inc - Class A takes out the full calculated possible swing range there will be an estimated 5.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.91 (0.13%) than the resistance at $8.00 (1.01%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Avepoint Inc - Class A stock A Buy?
Avepoint Inc - Class A holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.956 Hold/Accumulate Unchanged
Predicted Opening Price for Avepoint Inc - Class A of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $7.88 ( 0.505%) | $7.92 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AVPT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.04 | 1.52 % | |
| R2 | 7.98 | 0.743 % | ||
| R1 | 7.94 | 0.267 % | ||
| Current price: | 7.92 | |||
| Support | S1 | 7.82 | -1.28 % | |
| S2 | 7.78 | -1.75 % | ||
| S3 | 7.72 | -2.53 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.40 | 6.06 % | |
| R2 | 8.17 | 3.16 % | ||
| R1 | 8.00 | 1.01 % | ||
| Current price | 7.92 | |||
| Support | S1 | 7.91 | -0.126% | |
| S2 | 7.70 | -2.78% | ||
| S3 | 7.38 | -6.82% |
FAQ
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