Volatile ride for Richtech Robotics Inc. stock price on Monday moving between $4.11 and $4.83

StockInvest.us, 1 month ago

StockInvest.us

The Richtech Robotics Inc. stock price gained 0.489% on the last trading day (Monday, 6th Jan 2025), rising from $4.09 to $4.11. During the last trading day the stock fluctuated 17.52% from a day low at $4.11 to a day high of $4.83. The price has risen in 7 of the last 10 days and is up by 257.39% over the past 2 weeks. Volume fell on the last day by -64 million shares and in total, 0 shares were bought and sold for approximately $0 . 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.

On Apr 26, 2022, it was reported that J.P. Morgan gave RR a "Underweight" grade with a "downgrade" action.

The stock has broken the very wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $3.61, a level that may pose a second chance to hit a runner. According to fan-theory $6.02 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

Richtech Robotics Inc.

The Richtech Robotics 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 $3.20 and $1.34. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, January 02, 2025, and so far it has risen 70.54%. 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 not be. The very low volume increases the risk and reduces the other technical signals issued.

Richtech Robotics Inc. finds support from accumulated volume at $4.09 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.720 between high and low, or 17.52%. For the last week the stock has had daily average volatility of 41.65%

The Richtech Robotics Inc. stock is extremely overbought on RSI14 (79). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Richtech Robotics Inc. stock to perform well in the short-term period.

Check full Richtech Robotics Inc. forecast and analysis here.