AMUB Stock Forecast

AMUB stock price ended at $18.29 on Tuesday, after gaining 1.62%.
(Updated on Jul 02, 2024)

AMUB Signals & Forecast

The AMUB 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 $18.04 and $17.68. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 6.85%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). AMUB 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.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Tuesday, June 04, 2024 and based on theory for this formation the price should go up by 3.14% to $18.87 within 19 trading days since signal was issued (Tuesday, July 02, 2024).

Support, Risk & Stop-loss for AMUB stock

AMUB finds support from accumulated volume at $18.06 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0380 between high and low, or 0.208%. For the last week the stock has had daily average volatility of 0.0415%.

The AMUB stock is extremely overbought on RSI14 (89). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: $17.51 (-4.26%) (This stock has low daily movements and this gives low risk. The RSI14 is 89 and this increases the risk substantially. There is a buy signal from a pivot bottom found 27 days ago.)

Trading Expectations (AMUB) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect AMUB to open at $18.30, and during the day (based on 14 day Average True Range), to move between $18.17 and $18.41, which gives a possible trading interval of +/-$0.121 (+/-0.66%) up or down from last closing price. If AMUB takes out the full calculated possible swing range there will be an estimated 1.32% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $18.06, some $0.232 (1.27%) from the current price of $18.29, our system finds the risk reward attractive.

Is AMUB stock A Buy?

AMUB 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.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for AMUB of Wednesday, July 3, 2024

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