Akash Network USD Stock Forecast
High volatility in Akash Network USD stock price on Friday which ended trading at $3.54
(Updated on Jun 28, 2024)
The Akash Network USD stock price gained 8.69% on the last trading day (Friday, 28th Jun 2024), rising from $3.26 to $3.54. During the last trading day the stock fluctuated 15.07% from a day low at $3.27 to a day high of $3.76. The price has been going up and down for this period, and there has been a 37.81% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 30 million more shares were traded than the day before. In total, 87 million shares were bought and sold for approximately $308.98 million.
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 -12.69% during the next 3 months and, with a 90% probability hold a price between $2.17 and $4.80 at the end of this 3-month period.
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AKTUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has risen 37.81%. 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). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Akash Network USD stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $3.93. On a fall, the stock will find some support from the short-term average at $3.10. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Akash Network USD stock
On the downside, the stock finds support just below today's level from accumulated volume at $3.35 and $3.26. 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, Akash Network USD finds support just below today's level at $3.35. If this is broken, then the next support from accumulated volume will be at $3.26 and $3.10.
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 $0.493 between high and low, or 15.07%. For the last week, the stock has had daily average volatility of 13.75%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AKTUSD) For The Upcoming Trading Day Of Saturday 29th
For the upcoming trading day on Saturday, 29th we expect Akash Network USD to open at $3.52, and during the day (based on 14 day Average True Range), to move between $3.13 and $3.95, which gives a possible trading interval of +/-$0.413 (+/-11.68%) up or down from last closing price. If Akash Network USD takes out the full calculated possible swing range there will be an estimated 23.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.62 (2.40%) than the support at $3.35 (5.45%), 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 Akash Network USD stock A Buy?
Akash Network USD holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.158 Sell Candidate Unchanged
Predicted Opening Price for Akash Network USD of Saturday, June 29, 2024
Fair opening price June 29, 2024 | Current price |
---|---|
$3.52 ( 0.405%) | $3.54 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AKTUSD
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 4.02 | 13.53% |
R2 | 3.83 | 8.20% |
R1 | 3.71 | 4.92% |
Price | 3.54 | |
S1 | 3.34 | -5.73% |
S2 | 3.22 | -9.01% |
S3 | 3.03 | -14.34% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 4.35 | 22.86% |
R2 | 4.02 | 13.45% |
R1 | 3.62 | 2.40% |
Price | 3.54 | |
S1 | 3.35 | -5.45% |
S2 | 3.26 | -8.00% |
S3 | 3.10 | -12.40% |
FAQ
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