Big movements in MicroAlgo Inc. stock price on Thursday moving 25.37% between high and low

StockInvest.us, 1 month ago

StockInvest.us

The MicroAlgo Inc. stock price gained 13.23% on the last trading day (Thursday, 3rd Oct 2024), rising from $0.310 to $0.351. It has now gained 4 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 25.37% from a day low at $0.335 to a day high of $0.420. The price has risen in 6 of the last 10 days and is up by 68.02% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 107 million more shares were traded than the day before. In total, 157 million shares were bought and sold for approximately $55.10 million.

The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled.Due to the high volatility and the trend direction we are not able to give forecast range for this stock.

MicroAlgo Inc.

The MicroAlgo Inc. 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 $0.273 and $0.349. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, September 23, 2024, and so far it has risen 76.92%. 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). Volume is rising along with the price. This is considered to be a good technical signal.

On the downside, the stock finds support just below today's level from accumulated volume at $0.310 and $0.279.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, MicroAlgo Inc. finds support just below today's level at $0.310. If this is broken, then the next support from accumulated volume will be at $0.279 and $0.270.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0850 between high and low, or 25.37%. For the last week, the stock has had daily average volatility of 18.50%.

MicroAlgo Inc. 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.

Check full MicroAlgo Inc. forecast and analysis here.