Alpha Star Acquisition Corporation Stock Forecast

Alpha Star Acquisition Corporation stock downgraded from Hold/Accumulate to Strong Sell Candidate after Monday trading session.
(Updated on Jun 17, 2024)

ALSAW Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.0083 and $0.0114. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Alpha Star Acquisition Corporation stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

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 between high and low, or 0%. For the last week the stock has had daily average volatility of 1.04%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (ALSAW) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect Alpha Star Acquisition Corporation to open at $0.0075, and during the day (based on 14 day Average True Range), to move between $0.0057 and $0.0093, which gives a possible trading interval of +/-$0.0018 (+/-23.54%) 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 47.09% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $0.0080, some $0.0005 (6.67%) from the current price of $0.0075, our system finds the risk reward not very attractive.

Is Alpha Star Acquisition Corporation stock A Buy?

Alpha Star Acquisition Corporation holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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 Strong Sell candidate.

Current score: -6.217 Strong Sell Candidate Downgraded

Predicted Opening Price for Alpha Star Acquisition Corporation of Tuesday, June 18, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.