Althea Group Holdings Limited Stock Forecast
Red day on Friday for Althea Group Holdings Limited stock after losing 4.17%
(Updated on Jun 28, 2024)
The Althea Group Holdings Limited stock price fell by -4.17% on the last day (Friday, 28th Jun 2024) from $0.0240 to $0.0230. During the last trading day the stock fluctuated 4.35% from a day low at $0.0230 to a day high of $0.0240. The price has risen in 4 of the last 10 days and is up by 9.52% over the past 2 weeks. Volume has increased on the last day by 282 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 935 thousand shares were bought and sold for approximately $21.50 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -29.83% during the next 3 months and, with a 90% probability hold a price between $0.0135 and $0.0176 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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AGH.AX Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 9.52%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Althea Group Holdings Limited 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 $0.0231 and $0.0250. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Althea Group Holdings Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Althea Group Holdings Limited stock
Althea Group Holdings Limited finds support from accumulated volume at $0.0220 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 $0.0010 between high and low, or 4.35%. For the last week, the stock has had daily average volatility of 5.38%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AGH.AX) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Althea Group Holdings Limited to open at $0.0233, and during the day (based on 14 day Average True Range), to move between $0.0210 and $0.0250, which gives a possible trading interval of +/-$0.0020 (+/-8.52%) up or down from last closing price. If Althea Group Holdings Limited takes out the full calculated possible swing range there will be an estimated 17.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0240 (4.35%) than the support at $0.0220 (4.35%), 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 Althea Group Holdings Limited stock A Buy?
Althea Group Holdings Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -1.417 Sell Candidate Unchanged
Predicted Opening Price for Althea Group Holdings Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $0.0233 ( 1.45%) | $0.0230 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AGH.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0243 | 5.80% |
| R2 | 0.0240 | 4.14% |
| R1 | 0.0237 | 3.11% |
| Price | 0.0230 | |
| S1 | 0.0230 | -0.212% |
| S2 | 0.0227 | -1.24% |
| S3 | 0.0223 | -2.90% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0270 | 17.39% |
| R2 | 0.0260 | 13.04% |
| R1 | 0.0240 | 4.35% |
| Price | 0.0230 | |
| S1 | 0.0220 | -4.35% |
| S2 | 0.0210 | -8.70% |
| S3 | 0 | - |
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