African Agriculture Holdings Inc. Stock Forecast
Big movements in African Agriculture Holdings Inc. stock price on Monday moving 31.82% between high and low
(Updated on Jun 17, 2024)
The African Agriculture Holdings Inc. stock price gained 9.92% on the last trading day (Monday, 17th Jun 2024), rising from $0.0131 to $0.0144. During the last trading day the stock fluctuated 31.82% from a day low at $0.0110 to a day high of $0.0145. The price has risen in 5 of the last 10 days but is still down by -12.73% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 7 thousand more shares were traded than the day before. In total, 7 thousand shares were bought and sold for approximately $99.14 .
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 3.89% during the next 3 months and, with a 90% probability hold a price between $0.0116 and $0.0176 at the end of this 3-month period.
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AAGRW Signals & Forecast
The African Agriculture Holdings 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 $0.0133 and $0.0132. A breakdown below any of these levels will issue sell signals. African Agriculture Holdings Inc. 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 Thursday, June 13, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
A sell signal from a double top formation was found on Wednesday, June 05, 2024 and based on theory for this formation the price should fall by -32.29% to $0.0098 within 8 trading days since signal was issued (Tuesday, June 18, 2024).
Support, Risk & Stop-loss for African Agriculture Holdings Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0130 and $0.0115. 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, African Agriculture Holdings Inc. finds support just below today's level at $0.0130. If this is broken, then the next support from accumulated volume will be at $0.0115 and $0.0110.
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 $0.0035 between high and low, or 31.82%. For the last week, the stock has had daily average volatility of 18.98%.
Our recommended stop-loss: $0.0138 (-4.02%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (AAGRW) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect African Agriculture Holdings Inc. to open at $0.0133, and during the day (based on 14 day Average True Range), to move between $0.0116 and $0.0172, which gives a possible trading interval of +/-$0.0028 (+/-19.50%) up or down from last closing price. If African Agriculture Holdings Inc. takes out the full calculated possible swing range there will be an estimated 39.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0150 (3.82%) than the support at $0.0130 (9.72%), 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 African Agriculture Holdings Inc. stock A Buy?
African Agriculture Holdings 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.062 Hold/Accumulate Upgraded
Predicted Opening Price for African Agriculture Holdings Inc. of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $0.0133 ( 7.64%) | $0.0144 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AAGRW
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0168 | 16.67% |
| R2 | 0.0155 | 7.38% |
| R1 | 0.0146 | 1.65% |
| Price | 0.0144 | |
| S1 | 0.0120 | -16.92% |
| S2 | 0.0111 | -22.66% |
| S3 | 0.0098 | -31.94% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0169 | 17.36% |
| R2 | 0.0165 | 14.58% |
| R1 | 0.0150 | 3.82% |
| Price | 0.0144 | |
| S1 | 0.0130 | -9.72% |
| S2 | 0.0115 | -20.14% |
| S3 | 0.0110 | -23.61% |
FAQ
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