Arrowroot Acquisition Corp. Stock Forecast

Volatile ride for Arrowroot Acquisition Corp. stock price on Monday moving between $0.650 and $0.741
(Updated on Jun 17, 2024)

AILEW Signals & Forecast

The Arrowroot Acquisition Corp. 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 $0.531 and $0.465. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 07, 2024, and so far it has risen 85.18%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Arrowroot Acquisition Corp. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Arrowroot Acquisition Corp. stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.670. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.

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 $0.0909 between high and low, or 13.99%. For the last week, the stock has had daily average volatility of 17.07%.

Since the Arrowroot Acquisition Corp. has been rising for 6 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.

Our recommended stop-loss: $0.715 (-3.44%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 31 days ago.)

Trading Expectations (AILEW) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect Arrowroot Acquisition Corp. to open at $0.710, and during the day (based on 14 day Average True Range), to move between $0.679 and $0.80, which gives a possible trading interval of +/-$0.0614 (+/-8.29%) up or down from last closing price. If Arrowroot Acquisition Corp. takes out the full calculated possible swing range there will be an estimated 16.59% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $0.670, some $0.0707 (9.55%) from the current price of $0.741, our system finds the risk reward attractive.

Is Arrowroot Acquisition Corp. stock A Buy?

Arrowroot Acquisition Corp. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Arrowroot Acquisition Corp. of Tuesday, June 18, 2024

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