Alpha Star Acquisition Corporation Stock Forecast
Alpha Star Acquisition Corporation stock price fell more than -20.32% Tuesday closing at $0.120
(Updated on Jun 25, 2024)
The Alpha Star Acquisition Corporation stock price fell by -20.32% on the last day (Tuesday, 25th Jun 2024) from $0.150 to $0.120. During the last trading day the stock fluctuated 9.93% from a day low at $0.109 to a day high of $0.120. The price has been going up and down for this period, and there has been a 11.78% 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 -1 thousand shares and in total, 200 shares were bought and sold for approximately $23.92 .
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.118 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 45.10% during the next 3 months and, with a 90% probability hold a price between $0.171 and $0.282 at the end of this 3-month period.
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ALSAR Signals & Forecast
There are few to no technical positive signals at the moment. The Alpha Star Acquisition Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.134 and $0.122. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 10, 2024, and so far it has fallen -32.20%. 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). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Alpha Star Acquisition Corporation stock
Alpha Star Acquisition Corporation finds support from accumulated volume at $0.119 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 very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0108 between high and low, or 9.93%. For the last week the stock has had daily average volatility of 4.39%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ALSAR) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Alpha Star Acquisition Corporation to open at $0.116, and during the day (based on 14 day Average True Range), to move between $0.0878 and $0.151, which gives a possible trading interval of +/-$0.0318 (+/-26.58%) up or down from last closing price. If Alpha Star Acquisition Corporation takes out the full calculated possible swing range there will be an estimated 53.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.119 (0.92%) than the resistance at $0.130 (8.70%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Alpha Star Acquisition Corporation stock A Buy?
The Alpha Star Acquisition Corporation stock holds several negative signals and despite the positive trend, we believe Alpha Star Acquisition Corporation will perform weakly in the next couple of days or weeks. Therefore, we 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 Hold/Accumulate to a Sell candidate.
Current score: -2.855 Sell Candidate Downgraded
Predicted Opening Price for Alpha Star Acquisition Corporation of Wednesday, June 26, 2024
Fair opening price June 26, 2024 | Current price |
---|---|
$0.116 ( 3.01%) | $0.120 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALSAR
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.127 | 6.02% |
R2 | 0.123 | 2.57% |
R1 | 0.120 | 0.439% |
Price | 0.120 | |
S1 | 0.112 | -6.46% |
S2 | 0.109 | -8.59% |
S3 | 0.105 | -12.04% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.140 | 17.06% |
R2 | 0.136 | 13.71% |
R1 | 0.130 | 8.70% |
Price | 0.120 | |
S1 | 0.119 | -0.92% |
S2 | 0.107 | -10.54% |
S3 | 0.103 | -14.05% |
FAQ
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