Acasti Pharma Stock Forecast
Green day on Thursday for Acasti Pharma
(Updated on Apr 25, 2024)
The Acasti Pharma stock price gained 0.98% on the last trading day (Thursday, 25th Apr 2024), rising from $2.90 to $2.93. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.45% from a day low at $2.86 to a day high of $2.93. The price has fallen in 6 of the last 10 days and is down by -13.87% for this period. Volume fell on the last day by -6 thousand shares and in total, 2 thousand shares were bought and sold for approximately $7.21 thousand. 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 part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $2.89 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 25.52% during the next 3 months and, with a 90% probability hold a price between $3.62 and $4.60 at the end of this 3-month period.
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ACST Signals & Forecast
There are few to no technical positive signals at the moment. The Acasti Pharma 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 $2.96 and $3.31. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 01, 2024, and so far it has fallen -15.12%. 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 fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Acasti Pharma stock
On the downside, the stock finds support just below today's level from accumulated volume at $2.61 and $2.45. 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 $2.61. If this is broken, then the next support from accumulated volume will be at $2.45 and $2.42.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0700 between high and low, or 2.45%. For the last week the stock has had daily average volatility of 4.90%.
Acasti Pharma is oversold on RSI14 (13). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ACST) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Acasti Pharma to open at $2.91, and during the day (based on 14 day Average True Range), to move between $2.81 and $3.05, which gives a possible trading interval of +/-$0.121 (+/-4.13%) up or down from last closing price. If Acasti Pharma takes out the full calculated possible swing range there will be an estimated 8.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.06 (4.49%) than the support at $2.61 (10.88%), 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?
The Acasti Pharma stock holds several negative signals and despite the positive trend, we believe Acasti Pharma will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.401 Sell Candidate Unchanged
Predicted Opening Price for Acasti Pharma of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $2.91 ( 0.763%) | $2.93 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ACST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.98 | 1.63 % | |
| R2 | 2.95 | 0.715 % | ||
| R1 | 2.93 | 0.150 % | ||
| Current price: | 2.93 | |||
| Support | S1 | 2.88 | -1.68 % | |
| S2 | 2.86 | -2.24 % | ||
| S3 | 2.84 | -3.15 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.43 | 17.12 % | |
| R2 | 3.40 | 16.10 % | ||
| R1 | 3.06 | 4.49 % | ||
| Current price | 2.93 | |||
| Support | S1 | 2.61 | -10.88% | |
| S2 | 2.45 | -16.34% | ||
| S3 | 2.42 | -17.36% |
FAQ
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