Allied Energy Inc. Stock Forecast
Big movements in Allied Energy Inc. stock price on Monday moving 40.00% between high and low
(Updated on Jun 17, 2024)
The Allied Energy Inc. stock price fell by -25.93% on the last day (Monday, 17th Jun 2024) from $0.0027 to $0.0020. During the last trading day the stock fluctuated 40.00% from a day low at $0.0020 to a day high of $0.0028. The price has risen in 5 of the last 10 days but is still down by -11.11% for this period. Volume has increased on the last day by 1 million 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, 1 million shares were bought and sold for approximately $2.62 thousand.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0019 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 6.42% during the next 3 months and, with a 90% probability hold a price between $0.0020 and $0.0045 at the end of this 3-month period.
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AGYP Signals & Forecast
There are few to no technical positive signals at the moment. The Allied Energy Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.0025 and $0.0024. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 16, 2024, and so far it has fallen -50.31%. 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). Allied Energy Inc. 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 Allied Energy Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0019 and $0.0018. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0.0018 may give a huge drop in the stock price.
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 $0.0008 between high and low, or 40.00%. For the last week, the stock has had daily average volatility of 8.00%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AGYP) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Allied Energy Inc. to open at $0.0023, and during the day (based on 14 day Average True Range), to move between $0.0016 and $0.0024, which gives a possible trading interval of +/-$0.0004 (+/-17.94%) up or down from last closing price. If Allied Energy Inc. takes out the full calculated possible swing range there will be an estimated 35.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0021 (5.00%) than the support at $0.0019 (5.00%), 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 Allied Energy Inc. stock A Buy?
The Allied Energy Inc. stock holds several negative signals and despite the positive trend, we believe Allied Energy Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -2.831 Sell Candidate Downgraded
Predicted Opening Price for Allied Energy Inc. of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $0.0023 ( 13.33%) | $0.0020 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AGYP
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0031 | 53.33% |
| R2 | 0.0028 | 38.05% |
| R1 | 0.0026 | 28.61% |
| Price | 0.0020 | |
| S1 | 0.0020 | -1.95% |
| S2 | 0.0018 | -11.39% |
| S3 | 0.0015 | -26.67% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0024 | 20.00% |
| R2 | 0.0023 | 15.00% |
| R1 | 0.0021 | 5.00% |
| Price | 0.0020 | |
| S1 | 0.0019 | -5.00% |
| S2 | 0.0018 | -10.00% |
| S3 | 0 | - |
FAQ
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