Aimei Health Technology Co., Ltd Stock Forecast
Aimei Health Technology Co., Ltd stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Jun 21, 2024)
The Aimei Health Technology Co., Ltd stock price gained 0.151% on the last trading day (Friday, 21st Jun 2024), rising from $10.33 to $10.35. During the last trading day the stock fluctuated 0% from a day low at $10.35 to a day high of $10.35. The price has been going up and down for this period, and there has been a 0.25% gain for the last 2 weeks. Volume fell on the last day by -584 thousand shares and in total, 730 shares were bought and sold for approximately $7.55 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 is at the lower part of a narrow and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $10.33 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Aimei Health Technology Co., Ltd stock with a 90% probability to be traded between $10.49 and $10.63 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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AFJK Signals & Forecast
The Aimei Health Technology Co., Ltd stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $10.41. On a fall, the stock will find some support from the long-term average at approximately $10.32. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Monday, June 17, 2024, and so far it has fallen -1.17%. Further fall is indicated until a new bottom pivot has been found. 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 Aimei Health Technology Co., Ltd stock
Aimei Health Technology Co., Ltd finds support from accumulated volume at $10.33 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%
Our recommended stop-loss: $9.95 (-3.78%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (AFJK) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Aimei Health Technology Co., Ltd Ordinary Share to open at $10.35, and during the day (based on 14 day Average True Range), to move between $10.32 and $10.37, which gives a possible trading interval of +/-$0.0229 (+/-0.22%) up or down from last closing price. If Aimei Health Technology Co., Ltd Ordinary Share takes out the full calculated possible swing range there will be an estimated 0.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $10.33 (0.15%) than the resistance at $10.47 (1.18%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Aimei Health Technology Co., Ltd Ordinary Share stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Aimei Health Technology Co., Ltd stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.452 Buy Candidate Upgraded
Predicted Opening Price for Aimei Health Technology Co., Ltd Ordinary Share of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $10.35 ( 0%) | $10.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AFJK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.35 | - |
| R2 | 10.35 | - |
| R1 | 10.35 | - |
| Price | 10.35 | |
| S1 | 10.35 | - |
| S2 | 10.35 | - |
| S3 | 10.35 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 10.47 | 1.18% |
| Price | 10.35 | |
| S1 | 10.33 | -0.151% |
| S2 | 10.30 | -0.441% |
| S3 | 10.26 | -0.83% |
FAQ
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