Aurora Labs Limited Stock Forecast
On Friday, Aurora Labs Limited stock price gained an impressive 11.11%
(Updated on May 03, 2024)
The Aurora Labs Limited stock price gained 11.11% on the last trading day (Friday, 3rd May 2024), rising from $0.0360 to $0.0400. During the last trading day the stock fluctuated 5.26% from a day low at $0.0380 to a day high of $0.0400. The price has risen in 6 of the last 10 days and is up by 42.86% 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, 319 thousand more shares were traded than the day before. In total, 912 thousand shares were bought and sold for approximately $36.49 thousand.
The stock lies in the upper part of a very wide and strong rising 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 $0.0406 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 30.80% during the next 3 months and, with a 90% probability hold a price between $0.0385 and $0.0531 at the end of this 3-month period.
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A3D.AX Signals & Forecast
The Aurora Labs Limited 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 $0.0386 and $0.0319. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Aurora Labs Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. 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 Monday, April 29, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Aurora Labs Limited stock
Aurora Labs Limited finds support from accumulated volume at $0.0390 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.0020 between high and low, or 5.26%. For the last week, the stock has had daily average volatility of 6.44%.
Our recommended stop-loss: $0.0385 (-3.64%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (A3D.AX) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Aurora Labs Limited to open at $0.0393, and during the day (based on 14 day Average True Range), to move between $0.0370 and $0.0430, which gives a possible trading interval of +/-$0.0030 (+/-7.62%) up or down from last closing price. If Aurora Labs Limited takes out the full calculated possible swing range there will be an estimated 15.24% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.0390, some $0.0010 (2.50%) from the current price of $0.0400, our system finds the risk reward attractive.
Is Aurora Labs Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Aurora Labs Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.847 Buy Candidate Upgraded
Predicted Opening Price for Aurora Labs Limited of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
$0.0393 ( 1.67%) | $0.0400 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for A3D.AX
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0413 | 3.33 % | |
R2 | 0.0406 | 1.42 % | ||
R1 | 0.0401 | 0.243 % | ||
Current price: | 0.0400 | |||
Support | S1 | 0.0386 | -3.58 % | |
S2 | 0.0381 | -4.76 % | ||
S3 | 0.0373 | -6.67 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 0.0400 | |||
Support | S1 | 0.0390 | -2.50% | |
S2 | 0.0380 | -5.00% | ||
S3 | 0.0310 | -22.50% |
FAQ
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