Astera Labs, Inc. Stock Forecast
Astera Labs, Inc. stock downgraded from Buy Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Apr 30, 2024)
The Astera Labs, Inc. stock price fell by -1.10% on the last day (Tuesday, 30th Apr 2024) from $85.70 to $84.76. During the last trading day the stock fluctuated 6.75% from a day low at $81.68 to a day high of $87.19. The price has been going up and down for this period, and there has been a 13.74% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -2 million shares and in total, 2 million shares were bought and sold for approximately $163.35 million.
The stock lies in the upper part of a very wide and weak rising 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 $89.47 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 5.93% during the next 3 months and, with a 90% probability hold a price between $69.64 and $94.78 at the end of this 3-month period.
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ALAB Signals & Forecast
The Astera Labs, Inc. 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 $76.51 and $73.11. 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, April 29, 2024, and so far it has fallen -1.10%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Astera Labs, Inc. stock
Astera Labs, Inc. finds support from accumulated volume at $83.38 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $5.51 between high and low, or 6.75%. For the last week, the stock has had daily average volatility of 11.26%.
Our recommended stop-loss: $81.27 (-4.12%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (ALAB) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Astera Labs, Inc. to open at $84.54, and during the day (based on 14 day Average True Range), to move between $76.84 and $92.68, which gives a possible trading interval of +/-$7.92 (+/-9.34%) up or down from last closing price. If Astera Labs, Inc. takes out the full calculated possible swing range there will be an estimated 18.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $85.00 (0.28%) than the support at $83.38 (1.63%), 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.
Earnings coming up
Astera Labs, Inc. will release earnings AMC on Tuesday, May 07, 2024. We will update the financials statements for Astera Labs, Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 0% in the first trading day after earnings release.
Is Astera Labs, Inc. stock A Buy?
Astera Labs, 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.776 Hold/Accumulate Downgraded
Predicted Opening Price for Astera Labs, Inc. of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| $84.54 ( 0.256%) | $84.76 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALAB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 90.05 | 6.25 % | |
| R2 | 87.95 | 3.76 % | ||
| R1 | 86.65 | 2.23 % | ||
| Current price: | 84.76 | |||
| Support | S1 | 82.44 | -2.74 % | |
| S2 | 81.14 | -4.27 % | ||
| S3 | 79.03 | -6.76 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 85.70 | 1.11 % | ||
| R1 | 85.00 | 0.283 % | ||
| Current price | 84.76 | |||
| Support | S1 | 83.38 | -1.63% | |
| S2 | 70.00 | -17.41% | ||
| S3 | 64.15 | -24.32% |
FAQ
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