ACM Research Inc. Class A Stock Forecast
ACM Research Inc. Class A stock price down 1.81% on Thursday
(Updated on Apr 18, 2024)
The ACM Research Inc. Class A stock price fell by -1.81% on the last day (Thursday, 18th Apr 2024) from $27.91 to $27.41. During the last trading day the stock fluctuated 5.98% from a day low at $26.79 to a day high of $28.39. The price has fallen in 7 of the last 10 days and is down by -10.47% for this period. Volume has increased on the last day by 251 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 950 thousand shares were bought and sold for approximately $26.02 million.
Given the current short-term trend, the stock is expected to rise 56.19% during the next 3 months and, with a 90% probability hold a price between $42.80 and $65.51 at the end of this 3-month period.
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ACMR Signals & Forecast
There are few to no technical positive signals at the moment. The ACM Research Inc. Class A 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 $28.52 and $29.64. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 01, 2024, and so far it has fallen -19.18%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for ACM Research Inc. Class A stock
On the downside, the stock finds support just below today's level from accumulated volume at $21.79 and $21.60. 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, ACM Research Inc. Class A finds support just below today's level at $21.79. If this is broken, then the next support from accumulated volume will be at $21.60 and $20.58.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.60 between high and low, or 5.98%. For the last week, the stock has had daily average volatility of 5.63%.
Our recommended stop-loss: $26.00 (-5.14%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 33 days ago.)
Trading Expectations (ACMR) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect ACM Research Inc. Class A to open at $27.53, and during the day (based on 14 day Average True Range), to move between $25.48 and $29.33, which gives a possible trading interval of +/-$1.93 (+/-7.03%) up or down from last closing price. If ACM Research Inc. Class A takes out the full calculated possible swing range there will be an estimated 14.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $29.22 (6.62%) than the support at $21.79 (20.49%), 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 ACM Research Inc. Class A stock A Buy?
ACM Research Inc. Class A holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.216 Hold/Accumulate Unchanged
Predicted Opening Price for ACM Research Inc. Class A of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $27.53 ( 0.448%) | $27.41 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ACMR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.13 | 6.29 % | |
| R2 | 28.52 | 4.06 % | ||
| R1 | 28.14 | 2.68 % | ||
| Current price: | 27.41 | |||
| Support | S1 | 26.92 | -1.78 % | |
| S2 | 26.54 | -3.16 % | ||
| S3 | 25.93 | -5.40 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 31.92 | 16.48 % | |
| R2 | 30.68 | 11.95 % | ||
| R1 | 29.22 | 6.62 % | ||
| Current price | 27.41 | |||
| Support | S1 | 21.79 | -20.49% | |
| S2 | 21.60 | -21.18% | ||
| S3 | 20.58 | -24.90% |
FAQ
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