AI/ML Innovations Inc. Stock Forecast
AI/ML Innovations Inc. stock price ended at $0.0400 on Tuesday, after losing 4.76%.
(Updated on Jul 02, 2024)
The AI/ML Innovations Inc. stock price fell by -4.76% on the last day (Tuesday, 2nd Jul 2024) from $0.0420 to $0.0400. During the last trading day the stock fluctuated 5.00% from a day low at $0.0400 to a day high of $0.0420. The price has been going up and down for this period, and there has been a 21.21% gain for the last 2 weeks. Volume has increased on the last day by 102 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, 102 thousand shares were bought and sold for approximately $4.08 thousand.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.0426 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -37.59% during the next 3 months and, with a 90% probability hold a price between $0.0149 and $0.0266 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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AIMLF Signals & Forecast
The AI/ML Innovations Inc. 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 $0.0417. On a fall, the stock will find some support from the long-term average at approximately $0.0393. 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. A buy signal was issued from a pivot bottom point on Monday, June 03, 2024, and so far it has risen 24.22%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. AI/ML Innovations 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 AI/ML Innovations Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0360 and $0.0355. 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, AI/ML Innovations Inc. finds support just below today's level at $0.0360. If this is broken, then the next support from accumulated volume will be at $0.0355 and $0.0330.
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 $0.0020 between high and low, or 5.00%. For the last week, the stock has had daily average volatility of 1.00%.
The AI/ML Innovations Inc. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $0.0391 (-2.36%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 82 and this increases the risk substantially. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (AIMLF) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect AI/ML Innovations Inc. to open at $0.0407, and during the day (based on 14 day Average True Range), to move between $0.0376 and $0.0424, which gives a possible trading interval of +/-$0.0024 (+/-5.93%) up or down from last closing price. If AI/ML Innovations Inc. takes out the full calculated possible swing range there will be an estimated 11.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0420 (5.00%) than the support at $0.0360 (10.00%), 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 AI/ML Innovations Inc. stock A Buy?
AI/ML Innovations Inc. 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: -0.881 Hold/Accumulate Unchanged
Predicted Opening Price for AI/ML Innovations Inc. of Wednesday, July 3, 2024
Fair opening price July 3, 2024 | Current price |
---|---|
$0.0407 ( 1.67%) | $0.0400 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AIMLF
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0427 | 6.67% |
R2 | 0.0419 | 4.76% |
R1 | 0.0414 | 3.58% |
Price | 0.0400 | |
S1 | 0.0399 | -0.243% |
S2 | 0.0394 | -1.42% |
S3 | 0.0387 | -3.33% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0460 | 15.00% |
R2 | 0.0429 | 7.25% |
R1 | 0.0420 | 5.00% |
Price | 0.0400 | |
S1 | 0.0360 | -10.00% |
S2 | 0.0355 | -11.25% |
S3 | 0.0330 | -17.50% |
FAQ
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