ACM Research Inc. Class A Stock Forecast
Evaluation of ACM Research Inc. Class A stock downgraded after the last trading session.
(Updated on May 01, 2024)
The ACM Research Inc. Class A stock price fell by -2.35% on the last day (Wednesday, 1st May 2024) from $25.52 to $24.92. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 5.98% from a day low at $24.57 to a day high of $26.04. The price has fallen in 6 of the last 10 days and is down by -10.71% for this period. Volume has increased on the last day by 111 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, 1 million shares were bought and sold for approximately $24.97 million.
Given the current short-term trend, the stock is expected to rise 34.07% during the next 3 months and, with a 90% probability hold a price between $33.41 and $55.10 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 $26.86 and $28.61. 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 -26.51%. 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 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 $1.47 between high and low, or 5.98%. For the last week, the stock has had daily average volatility of 8.00%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ACMR) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect ACM Research Inc. Class A to open at $25.18, and during the day (based on 14 day Average True Range), to move between $22.95 and $26.89, which gives a possible trading interval of +/-$1.97 (+/-7.92%) 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 15.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $21.79 (12.56%) than the resistance at $29.22 (17.26%), 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
ACM Research Inc. Class A will release earnings BMO on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.310. We will update the financials statements for ACM Research Inc. Class A, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 12.90% in the first trading day after earnings release.
Is ACM Research Inc. Class A stock A Buy?
The ACM Research Inc. Class A stock holds several negative signals and despite the positive trend, we believe ACM Research Inc. Class A will perform weakly in the next couple of days or weeks. Therefore, we 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 Hold/Accumulate to a Sell candidate.
Current score: -1.447 Sell Candidate Downgraded
Predicted Opening Price for ACM Research Inc. Class A of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $25.18 ( 1.03%) | $24.92 |
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 | 26.65 | 6.93 % | |
| R2 | 26.09 | 4.68 % | ||
| R1 | 25.74 | 3.28 % | ||
| Current price: | 24.92 | |||
| Support | S1 | 24.62 | -1.22 % | |
| S2 | 24.27 | -2.62 % | ||
| S3 | 23.71 | -4.87 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 30.92 | 24.08 % | |
| R2 | 30.68 | 23.11 % | ||
| R1 | 29.22 | 17.26 % | ||
| Current price | 24.92 | |||
| Support | S1 | 21.79 | -12.56% | |
| S2 | 21.60 | -13.32% | ||
| S3 | 20.58 | -17.42% |
FAQ
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