Momentus Inc. Stock Forecast
Weaker technical forecast for Momentus Inc. as stock downgraded to Buy Candidate.
(Updated on May 03, 2024)
The Momentus Inc. stock price gained 0.223% on the last trading day (Friday, 3rd May 2024), rising from $0.538 to $0.539. 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 5.77% from a day low at $0.520 to a day high of $0.550. The price has risen in 6 of the last 10 days and is up by 46.27% over the past 2 weeks. Volume fell on the last day by -101 thousand shares and in total, 192 thousand shares were bought and sold for approximately $103.71 thousand. 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.
Given the current short-term trend, the stock is expected to fall -48.59% during the next 3 months and, with a 90% probability hold a price between $0.147 and $0.277 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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MNTS Signals & Forecast
The Momentus Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.494 and $0.447. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 46.27%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 also not.
Support, Risk & Stop-loss for Momentus Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.500 and $0.458. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Momentus Inc. finds support just below today's level at $0.500. If this is broken, then the next support from accumulated volume will be at $0.458 and $0.452.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0300 between high and low, or 5.77%. For the last week the stock has had daily average volatility of 9.35%.
Our recommended stop-loss: $0.523 (-3.06%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (MNTS) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Momentus Inc. to open at $0.536, and during the day (based on 14 day Average True Range), to move between $0.483 and $0.595, which gives a possible trading interval of +/-$0.0564 (+/-10.46%) up or down from last closing price. If Momentus Inc. takes out the full calculated possible swing range there will be an estimated 20.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.500 (7.24%) than the resistance at $0.594 (10.11%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Momentus Inc. will release earnings BMO on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is -$2.21. We will update the financials statements for Momentus Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 14.39% in the first trading day after earnings release.
Is Momentus Inc. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 3.978 Buy Candidate Downgraded
Predicted Opening Price for Momentus Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.536 ( 0.495%) | $0.539 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MNTS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.566 | 5.07 % | |
| R2 | 0.555 | 2.94 % | ||
| R1 | 0.548 | 1.63 % | ||
| Current price: | 0.539 | |||
| Support | S1 | 0.525 | -2.62 % | |
| S2 | 0.518 | -3.93 % | ||
| S3 | 0.506 | -6.06 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.639 | 18.46 % | |
| R2 | 0.625 | 15.96 % | ||
| R1 | 0.594 | 10.11 % | ||
| Current price | 0.539 | |||
| Support | S1 | 0.500 | -7.24% | |
| S2 | 0.458 | -15.06% | ||
| S3 | 0.452 | -16.12% |
FAQ
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