Applied Optoelectronics Stock Forecast
Stronger technical forecast for Applied Optoelectronics stock price after Wednesday trading.
(Updated on May 01, 2024)
The Applied Optoelectronics stock price gained 0.508% on the last trading day (Wednesday, 1st May 2024), rising from $9.85 to $9.90. During the last trading day the stock fluctuated 7.52% from a day low at $9.64 to a day high of $10.37. The price has fallen in 6 of the last 10 days and is down by -17.36% for this period. Volume fell on the last day by -981 thousand shares and in total, 2 million shares were bought and sold for approximately $15.79 million. 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.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $9.61 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -41.97% during the next 3 months and, with a 90% probability hold a price between $5.57 and $8.04 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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AAOI Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 0.508%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Applied Optoelectronics 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 $10.51 and $12.47. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for Applied Optoelectronics stock
Applied Optoelectronics finds support from accumulated volume at $9.85 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.725 between high and low, or 7.52%. For the last week, the stock has had daily average volatility of 6.02%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AAOI) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Applied Optoelectronics to open at $9.97, and during the day (based on 14 day Average True Range), to move between $9.06 and $10.74, which gives a possible trading interval of +/-$0.84 (+/-8.53%) up or down from last closing price. If Applied Optoelectronics takes out the full calculated possible swing range there will be an estimated 17.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $9.85 (0.51%) than the resistance at $10.85 (9.60%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Applied Optoelectronics will release earnings AMC on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.290. We will update the financials statements for Applied Optoelectronics, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.77% in the first trading day after earnings release.
Is Applied Optoelectronics stock A Buy?
Applied Optoelectronics holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.782 Sell Candidate Upgraded
Predicted Opening Price for Applied Optoelectronics of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $9.97 ( 0.690%) | $9.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AAOI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.69 | 8.01 % | |
| R2 | 10.42 | 5.22 % | ||
| R1 | 10.25 | 3.49 % | ||
| Current price: | 9.90 | |||
| Support | S1 | 9.69 | -2.11 % | |
| S2 | 9.52 | -3.84 % | ||
| S3 | 9.24 | -6.63 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.98 | 21.01 % | |
| R2 | 11.13 | 12.42 % | ||
| R1 | 10.85 | 9.60 % | ||
| Current price | 9.90 | |||
| Support | S1 | 9.85 | -0.505% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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