Acasti Pharma stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Dec 08, 2023)
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The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.47% during the next 3 months and, with a 90% probability hold a price between $1.62 and $2.77 at the end of this 3-month period.
ACST Signals & Forecast
The Acasti Pharma stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $2.26 and $2.27. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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, September 28, 2023, and so far it has fallen -22.03%. Further fall is indicated until a new bottom pivot has been found. Acasti Pharma gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
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Support, Risk & Stop-loss for Acasti Pharma stock
On the downside, the stock finds support just below today's level from accumulated volume at $2.18 and $2.01. 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, Acasti Pharma finds support just below today's level at $2.18. If this is broken, then the next support from accumulated volume will be at $2.01 and $1.77.
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 $0.120 between high and low, or 5.41%. For the last week, the stock has had daily average volatility of 7.03%.
Our recommended stop-loss: $2.19 (-4.84%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 50 days ago.)
Trading Expectations (ACST) For The Upcoming Trading Day Of Monday 11th
For the upcoming trading day on Monday, 11th we expect Acasti Pharma to open at $2.29, and during the day (based on 14 day Average True Range), to move between $2.17 and $2.43, which gives a possible trading interval of +/-$0.129 (+/-5.60%) up or down from last closing price. If Acasti Pharma takes out the full calculated possible swing range there will be an estimated 11.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.41 (4.78%) than the support at $2.18 (5.22%), 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 Acasti Pharma stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.168 Open Broker AccountBuy Candidate Upgraded
Predicted Opening Price for Acasti Pharma of Monday, December 11, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price December 11, 2023||Current price|
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Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
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