Alcidion Group Limited Stock Forecast
Alcidion Group Limited stock price up 1.59% on Thursday
(Updated on May 09, 2024)
The Alcidion Group Limited stock price gained 1.59% on the last trading day (Thursday, 9th May 2024), rising from $0.0630 to $0.0640. During the last trading day the stock fluctuated 4.92% from a day low at $0.0610 to a day high of $0.0640. The price has fallen in 5 of the last 10 days but is still up by 18.52% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 669 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $92.32 thousand.
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 10.04% during the next 3 months and, with a 90% probability hold a price between $0.0502 and $0.0764 at the end of this 3-month period.
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ALC.AX Signals & Forecast
The Alcidion Group Limited 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 $0.0620 and $0.0511. 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). Alcidion Group Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. 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 Friday, May 03, 2024, and so far it has fallen -7.25%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Alcidion Group Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0510 and $0.0500. 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, Alcidion Group Limited finds support just below today's level at $0.0510. If this is broken, then the next support from accumulated volume will be at $0.0500 and $0.0490.
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 $0.0030 between high and low, or 4.92%. For the last week, the stock has had daily average volatility of 11.25%.
Our recommended stop-loss: $0.0604 (-5.56%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (ALC.AX) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Alcidion Group Limited to open at $0.0630, and during the day (based on 14 day Average True Range), to move between $0.0599 and $0.0681, which gives a possible trading interval of +/-$0.0041 (+/-6.41%) up or down from last closing price. If Alcidion Group Limited takes out the full calculated possible swing range there will be an estimated 12.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0660 (3.13%) than the support at $0.0510 (20.31%), 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 Alcidion Group Limited 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 Alcidion Group Limited stock to perform well in the short-term.
Current score: 1.960 Buy Candidate Unchanged
Predicted Opening Price for Alcidion Group Limited of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| $0.0630 ( 1.56%) | $0.0640 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALC.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0660 | 3.13 % | |
| R2 | 0.0649 | 1.33 % | ||
| R1 | 0.0641 | 0.228 % | ||
| Current price: | 0.0640 | |||
| Support | S1 | 0.0619 | -3.35 % | |
| S2 | 0.0611 | -4.46 % | ||
| S3 | 0.0600 | -6.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0.0690 | 7.81 % | ||
| R1 | 0.0660 | 3.13 % | ||
| Current price | 0.0640 | |||
| Support | S1 | 0.0510 | -20.31% | |
| S2 | 0.0500 | -21.88% | ||
| S3 | 0.0490 | -23.44% |
FAQ
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