Agba Acquisition Ltd Stock Forecast
Volatile ride for Agba Acquisition Ltd stock price on Tuesday moving between $2.71 and $4.29
(Updated on Apr 30, 2024)
The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $3.08 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 75.18% during the next 3 months and, with a 90% probability hold a price between $1.04 and $5.39 at the end of this 3-month period.
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AGBA Signals & Forecast
The Agba Acquisition Ltd 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 $2.50 and $0.85. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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 Tuesday, April 23, 2024, and so far it has fallen -4.71%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Agba Acquisition Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at $2.50 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, Agba Acquisition Ltd finds support just below today's level at $2.50. If this is broken, then the next support from accumulated volume will be at $2.45 and $2.24.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $1.58 between high and low, or 58.30%. For the last week, the stock has had daily average volatility of 29.91%.
Our recommended stop-loss: $2.69 (-4.83%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (AGBA) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Agba Acquisition Ltd to open at $3.28, and during the day (based on 14 day Average True Range), to move between $2.37 and $3.29, which gives a possible trading interval of +/-$0.461 (+/-16.30%) up or down from last closing price. If Agba Acquisition Ltd takes out the full calculated possible swing range there will be an estimated 32.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.97 (4.95%) than the support at $2.50 (11.66%), 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 Agba Acquisition Ltd stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Agba Acquisition Ltd stock to perform well in the short-term.
Current score: 4.382 Buy Candidate Unchanged
Predicted Opening Price for Agba Acquisition Ltd of Wednesday, May 1, 2024
Fair opening price May 1, 2024 | Current price |
---|---|
$3.28 ( 15.78%) | $2.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AGBA
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 4.86 | 71.61 % | |
R2 | 4.25 | 50.29 % | ||
R1 | 3.88 | 37.11 % | ||
Current price: | 2.83 | |||
Support | S1 | 2.67 | -5.54 % | |
S2 | 2.30 | -18.72 % | ||
S3 | 1.70 | -40.05 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 2.97 | 4.95 % | ||
Current price | 2.83 | |||
Support | S1 | 2.50 | -11.66% | |
S2 | 2.45 | -13.43% | ||
S3 | 2.24 | -20.85% |
FAQ
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