Affluence Corporation Stock Forecast
Volatile ride for Affluence Corporation stock price on Friday moving between $0.0110 and $0.0144
(Updated on May 10, 2024)
The Affluence Corporation stock price gained 13.03% on the last trading day (Friday, 10th May 2024), rising from $0.0127 to $0.0144. During the last trading day the stock fluctuated 31.27% from a day low at $0.0110 to a day high of $0.0144. The price has been going up and down for this period, and there has been a 15.2% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 515 thousand more shares were traded than the day before. In total, 792 thousand shares were bought and sold for approximately $11.41 thousand.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 40.39% during the next 3 months and, with a 90% probability hold a price between $0.0136 and $0.0279 at the end of this 3-month period.
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AFFU Signals & Forecast
The Affluence Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.0126 and $0.0117. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 14, 2024, and so far it has risen 140.00%. Further rise is indicated until a new top pivot has been found. Affluence Corporation has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Affluence Corporation stock
Affluence Corporation finds support from accumulated volume at $0.0140 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 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 $0.0034 between high and low, or 31.27%. For the last week, the stock has had daily average volatility of 17.00%.
Our recommended stop-loss: $0.0138 (-3.92%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 40 days ago.)
Trading Expectations (AFFU) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Affluence Corporation to open at $0.0133, and during the day (based on 14 day Average True Range), to move between $0.0122 and $0.0166, which gives a possible trading interval of +/-$0.0022 (+/-15.41%) up or down from last closing price. If Affluence Corporation takes out the full calculated possible swing range there will be an estimated 30.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0140 (2.78%) than the resistance at $0.0149 (3.47%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Affluence Corporation stock A Buy?
Affluence Corporation holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.169 Strong Buy Candidate Upgraded
Predicted Opening Price for Affluence Corporation of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $0.0133 ( 7.78%) | $0.0144 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AFFU
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0167 | 16.11 % | |
| R2 | 0.0154 | 6.99 % | ||
| R1 | 0.0146 | 1.35 % | ||
| Current price: | 0.0144 | |||
| Support | S1 | 0.0120 | -16.90 % | |
| S2 | 0.0112 | -22.54 % | ||
| S3 | 0.0098 | -31.67 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0.0149 | 3.47 % | ||
| Current price | 0.0144 | |||
| Support | S1 | 0.0140 | -2.78% | |
| S2 | 0.0129 | -10.42% | ||
| S3 | 0.0125 | -13.19% |
FAQ
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