Algory Project USD Stock Forecast
Evaluation of Algory Project USD stock downgraded after the last trading session.
(Updated on Jun 24, 2024)
No changes to the price of Algory Project USD stock on the last trading day (Monday, 24th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $0.0531 to a day high of $0.0531. The price has risen in 5 of the last 10 days and is up by 8.71% over the past 2 weeks.
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 $0.0566 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 -29.68% during the next 3 months and, with a 90% probability hold a price between $0.0220 and $0.0398 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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ALGUSD Signals & Forecast
The Algory Project USD stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.0509 and $0.0522. 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 Sunday, June 23, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Algory Project USD stock
Algory Project USD finds support from accumulated volume at $0.0510 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 5.55%
Our recommended stop-loss: $0.0511 (-3.92%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (ALGUSD) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect Algory Project USD to open at $0.0531, and during the day (based on 14 day Average True Range), to move between $0.0498 and $0.0565, which gives a possible trading interval of +/-$0.0033 (+/-6.22%) up or down from last closing price. If Algory Project USD takes out the full calculated possible swing range there will be an estimated 12.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0510 (4.01%) than the resistance at $0.0595 (11.96%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Algory Project USD stock A Buy?
Algory Project USD 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: 0.197 Hold/Accumulate Downgraded
Predicted Opening Price for Algory Project USD of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| $0.0531 ( 0%) | $0.0531 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALGUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0531 | - |
| R2 | 0.0531 | - |
| R1 | 0.0531 | - |
| Price | 0.0531 | |
| S1 | 0.0531 | - |
| S2 | 0.0531 | - |
| S3 | 0.0531 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0657 | 23.70% |
| R2 | 0.0596 | 12.06% |
| R1 | 0.0595 | 11.96% |
| Price | 0.0531 | |
| S1 | 0.0510 | -4.01% |
| S2 | 0.0432 | -18.72% |
| S3 | 0.0432 | -18.80% |
FAQ
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