Accuray Incorporated Stock Forecast
Red day on Monday for Accuray Incorporated
(Updated on Jun 17, 2024)
The Accuray Incorporated stock price fell by -0.495% on the last day (Monday, 17th Jun 2024) from $1.74 to $1.73. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 0% from a day low at $1.73 to a day high of $1.73. The price has been going up and down for this period, and there has been a 0% change for the last 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 -4 thousand shares and in total, 195 shares were bought and sold for approximately $337.35 .
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $1.84 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -37.43% during the next 3 months and, with a 90% probability hold a price between $0.606 and $1.15 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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0H8I.L Signals & Forecast
There are mixed signals in the stock today. The Accuray Incorporated stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $1.75 and $1.85. A break-up above any of these levels will issue buy signals. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has risen 13.07%. 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).
Support, Risk & Stop-loss for Accuray Incorporated stock
Accuray Incorporated finds support from accumulated volume at $1.70 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 2.11%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0H8I.L) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Accuray Incorporated to open at $1.73, and during the day (based on 14 day Average True Range), to move between $1.66 and $1.80, which gives a possible trading interval of +/-$0.0655 (+/-3.79%) up or down from last closing price. If Accuray Incorporated takes out the full calculated possible swing range there will be an estimated 7.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.74 (0.50%) than the support at $1.70 (1.56%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Accuray Incorporated stock A Buy?
Accuray Incorporated 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.
Current score: -1.894 Sell Candidate Unchanged
Predicted Opening Price for Accuray Incorporated of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $1.73 ( 0.00000000%) | $1.73 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0H8I.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.73 | 0.00000000% |
| R2 | 1.73 | 0.00000000% |
| R1 | 1.73 | 0.00000000% |
| Price | 1.73 | |
| S1 | 1.73 | 0.00000000% |
| S2 | 1.73 | 0.00000000% |
| S3 | 1.73 | 0.00000000% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.75 | 1.16% |
| R2 | 1.75 | 0.87% |
| R1 | 1.74 | 0.497% |
| Price | 1.73 | |
| S1 | 1.70 | -1.56% |
| S2 | 1.61 | -6.94% |
| S3 | 1.53 | -11.56% |
FAQ
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