Arrowroot Acquisition Corp. Stock Forecast
Arrowroot Acquisition Corp. stock upgraded to Buy Candidate.
(Updated on Jun 25, 2024)
The Arrowroot Acquisition Corp. stock price gained 2.94% on the last trading day (Tuesday, 25th Jun 2024), rising from $0.680 to $0.700. During the last trading day the stock fluctuated 5.90% from a day low at $0.680 to a day high of $0.720. The price has risen in 7 of the last 10 days and is up by 62.77% over the past 2 weeks. Volume fell on the last day by -71 thousand shares and in total, 97 thousand shares were bought and sold for approximately $67.93 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 93.48% during the next 3 months and, with a 90% probability hold a price between $0.93 and $1.50 at the end of this 3-month period.
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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 $0.696 and $0.504. 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). 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 Monday, June 17, 2024, and so far it has fallen -5.51%. Further fall is indicated until a new bottom pivot has been found. 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.
Support, Risk & Stop-loss for Arrowroot Acquisition Corp. stock
Arrowroot Acquisition Corp. finds support from accumulated volume at $0.690 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 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 $0.0401 between high and low, or 5.90%. For the last week the stock has had daily average volatility of 14.32%.
Our recommended stop-loss: $0.672 (-4.03%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 11 days ago.)
Trading Expectations (AILEW) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Arrowroot Acquisition Corp. to open at $0.700, and during the day (based on 14 day Average True Range), to move between $0.630 and $0.770, which gives a possible trading interval of +/-$0.0699 (+/-9.98%) up or down from last closing price. If Arrowroot Acquisition Corp. takes out the full calculated possible swing range there will be an estimated 19.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.700 (0.01%) than the support at $0.690 (1.41%), 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 Arrowroot Acquisition Corp. 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 Arrowroot Acquisition Corp. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.869 Buy Candidate Upgraded
Predicted Opening Price for Arrowroot Acquisition Corp. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $0.700 ( 0.0048%) | $0.700 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AILEW
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.740 | 5.72% |
| R2 | 0.725 | 3.54% |
| R1 | 0.715 | 2.18% |
| Price | 0.700 | |
| S1 | 0.685 | -2.19% |
| S2 | 0.675 | -3.55% |
| S3 | 0.660 | -5.73% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0.741 | 5.83% |
| R1 | 0.700 | 0.0143% |
| Price | 0.700 | |
| S1 | 0.690 | -1.41% |
| S2 | 0.680 | -2.86% |
| S3 | 0.545 | -22.13% |
FAQ
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