High volatility in American Virtual Cloud Technologies Inc stock price on Thursday which ended trading at $0.22StockInvest.us, 1 month ago
The American Virtual Cloud Technologies Inc stock price fell by -52.17% on the last day (Thursday, 1st Sep 2022) from $0.46 to $0.22. During the last trading day the stock fluctuated 102.39% from a day low at $0.20 to a day high of $0.41. The price has fallen in 7 of the last 10 days but is still up by 26.58% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -59 million shares and in total, 241 million shares were bought and sold for approximately $53.12 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.Given the current short-term trend, the stock is expected to fall -29.45% during the next 3 months and, with a 90% probability hold a price between $0.0853 and $0.32 at the end of this 3-month period.
The American Virtual Cloud Technologies Inc 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 $0.26. On a fall, the stock will find some support from the long-term average at approximately $0.21. 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. 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. A sell signal was issued from a pivot top point on Wednesday, August 31, 2022, and so far it has fallen -52.17%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
On the downside, the stock finds support just below today's level from accumulated volume at $0.18 and $0.18.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, American Virtual Cloud Technologies Inc finds support just below today's level at $0.18. If this is broken, then the next support from accumulated volume will be at $0.18 and $0.18.
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 $0.21 between high and low, or 102.39%. For the last week, the stock has had daily average volatility of 90.05%.
American Virtual Cloud Technologies Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.Check full American Virtual Cloud Technologies Inc forecast and analysis here.