Akoustis Technologies Inc Stock Forecast
Evaluation of Akoustis Technologies Inc stock downgraded after the last trading session.
(Updated on Apr 19, 2024)
The Akoustis Technologies Inc stock price fell by -4.70% on the last day (Friday, 19th Apr 2024) from $0.511 to $0.487. During the last trading day the stock fluctuated 8.43% from a day low at $0.483 to a day high of $0.523. The price has fallen in 6 of the last 10 days and is down by -15.57% for this period. Volume has increased on the last day by 138 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, 472 thousand shares were bought and sold for approximately $230.03 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 -14.55% during the next 3 months and, with a 90% probability hold a price between $0.365 and $0.608 at the end of this 3-month period.
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AKTS Signals & Forecast
There are few to no technical positive signals at the moment. The Akoustis Technologies Inc 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 $0.529 and $0.576. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, February 20, 2024, and so far it has fallen -38.64%. 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). Akoustis Technologies 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".
Support, Risk & Stop-loss for Akoustis Technologies Inc stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0407 between high and low, or 8.43%. For the last week, the stock has had daily average volatility of 9.39%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AKTS) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Akoustis Technologies Inc to open at $0.498, and during the day (based on 14 day Average True Range), to move between $0.434 and $0.540, which gives a possible trading interval of +/-$0.0534 (+/-10.96%) up or down from last closing price. If Akoustis Technologies Inc takes out the full calculated possible swing range there will be an estimated 21.92% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.543, some $0.0560 (11.50%) from the current price of $0.487, our system finds the risk reward not very attractive.
Is Akoustis Technologies Inc stock A Buy?
Akoustis Technologies Inc 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.491 Strong Sell Candidate Downgraded
Predicted Opening Price for Akoustis Technologies Inc of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $0.498 ( 2.18%) | $0.487 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AKTS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.538 | 10.54 % | |
| R2 | 0.523 | 7.35 % | ||
| R1 | 0.513 | 5.38 % | ||
| Current price: | 0.487 | |||
| Support | S1 | 0.482 | -1.01 % | |
| S2 | 0.472 | -2.98 % | ||
| S3 | 0.457 | -6.17 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.553 | 13.63 % | |
| R2 | 0.544 | 11.60 % | ||
| R1 | 0.543 | 11.50 % | ||
| Current price | 0.487 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
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