American Battery Technology Co Common Stock Forecast
Evaluation of American Battery Technology Co Common stock downgraded after the last trading session.
(Updated on Jun 21, 2024)
The American Battery Technology Co Common stock price fell by -0.96% on the last day (Friday, 21st Jun 2024) from $1.04 to $1.03. During the last trading day the stock fluctuated 5.83% from a day low at $1.03 to a day high of $1.09. The price has fallen in 9 of the last 10 days and is down by -24.82% for this period. 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 -28 thousand shares and in total, 453 thousand shares were bought and sold for approximately $466.81 thousand.
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 $0.98 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -30.05% during the next 3 months and, with a 90% probability hold a price between $0.686 and $0.97 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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ABAT Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has risen 3.00%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The American Battery Technology Co Common 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 $1.08 and $1.31. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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.
Support, Risk & Stop-loss for American Battery Technology Co Common stock
American Battery Technology Co Common finds support from accumulated volume at $1.00 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 periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0600 between high and low, or 5.83%. For the last week the stock has had daily average volatility of 8.56%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ABAT) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect American Battery Technology Company Common Stock to open at $1.05, and during the day (based on 14 day Average True Range), to move between $0.95 and $1.11, which gives a possible trading interval of +/-$0.0849 (+/-8.24%) up or down from last closing price. If American Battery Technology Company Common Stock takes out the full calculated possible swing range there will be an estimated 16.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.04 (0.97%) than the support at $1.00 (2.91%), 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 American Battery Technology Company Common Stock stock A Buy?
American Battery Technology Co Common 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.130 Strong Sell Candidate Downgraded
Predicted Opening Price for American Battery Technology Company Common Stock of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $1.05 ( 1.94%) | $1.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ABAT
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.11 | 7.77% |
| R2 | 1.09 | 5.54% |
| R1 | 1.07 | 4.17% |
| Price | 1.03 | |
| S1 | 1.03 | -0.283% |
| S2 | 1.01 | -1.66% |
| S3 | 0.99 | -3.88% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.28 | 24.27% |
| R2 | 1.06 | 2.91% |
| R1 | 1.04 | 0.97% |
| Price | 1.03 | |
| S1 | 1.00 | -2.91% |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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