Agba Acquisition Limited Stock Forecast

Big movements in Agba Acquisition Limited stock price on Friday moving 25.43% between high and low
(Updated on Jun 21, 2024)

AGBAW Signals & Forecast

A sell signal was issued from a pivot top point on Tuesday, June 11, 2024, and so far it has fallen -31.81%. 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. Some positive signals were issued as well, and these may have some influence on the near short-term development. The Agba Acquisition Limited 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 $0.323. On a fall, the stock will find some support from the long-term average at approximately $0.286. 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.

Support, Risk & Stop-loss for Agba Acquisition Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.264 and $0.248. 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 Limited finds support just below today's level at $0.264. If this is broken, then the next support from accumulated volume will be at $0.248 and $0.240.

This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0669 between high and low, or 25.43%. For the last week the stock has had daily average volatility of 36.86%.

Our recommended stop-loss: $0.288 (-4.14%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 21 days ago.)

Trading Expectations (AGBAW) For The Upcoming Trading Day Of Monday 24th

For the upcoming trading day on Monday, 24th we expect Agba Acquisition Limited to open at $0.298, and during the day (based on 14 day Average True Range), to move between $0.230 and $0.370, which gives a possible trading interval of +/-$0.0696 (+/-23.20%) up or down from last closing price. If Agba Acquisition Limited takes out the full calculated possible swing range there will be an estimated 46.40% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.264 (12.10%) than the resistance at $0.342 (14.03%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Agba Acquisition Limited stock A Buy?

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Buy candidate.

Current score: 1.765 Buy Candidate Upgraded

Predicted Opening Price for Agba Acquisition Limited of Monday, June 24, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.