Anghami Inc. Stock Forecast
Red day on Thursday for Anghami Inc.
(Updated on Apr 25, 2024)
The Anghami Inc. stock price fell by -4.31% on the last day (Thursday, 25th Apr 2024) from $1.16 to $1.11. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 7.62% from a day low at $1.05 to a day high of $1.13. The price has fallen in 6 of the last 10 days and is down by -11.9% for this period. Volume has increased on the last day by 35 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 117 thousand shares were bought and sold for approximately $129.87 thousand.
Given the current short-term trend, the stock is expected to rise 29.40% during the next 3 months and, with a 90% probability hold a price between $1.44 and $2.80 at the end of this 3-month period.
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ANGH Signals & Forecast
There are few to no technical positive signals at the moment. The Anghami Inc. 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 $1.20 and $1.31. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 26, 2024, and so far it has fallen -44.50%. 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). Anghami Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Anghami Inc. stock
Anghami Inc. finds support from accumulated volume at $1.11 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 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 $0.0800 between high and low, or 7.62%. For the last week, the stock has had daily average volatility of 6.03%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ANGH) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Anghami Inc. to open at $1.10, and during the day (based on 14 day Average True Range), to move between $0.94 and $1.28, which gives a possible trading interval of +/-$0.169 (+/-15.21%) up or down from last closing price. If Anghami Inc. takes out the full calculated possible swing range there will be an estimated 30.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.11 (0.09%) than the resistance at $1.16 (4.50%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Anghami Inc. stock A Buy?
The Anghami Inc. stock holds several negative signals and despite the positive trend, we believe Anghami Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.232 Sell Candidate Unchanged
Predicted Opening Price for Anghami Inc. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $1.10 ( 1.20%) | $1.11 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ANGH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.18 | 6.01 % | |
| R2 | 1.15 | 3.25 % | ||
| R1 | 1.13 | 1.55 % | ||
| Current price: | 1.11 | |||
| Support | S1 | 1.07 | -3.95 % | |
| S2 | 1.05 | -5.66 % | ||
| S3 | 1.02 | -8.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.33 | 19.82 % | |
| R2 | 1.27 | 14.41 % | ||
| R1 | 1.16 | 4.50 % | ||
| Current price | 1.11 | |||
| Support | S1 | 1.11 | -0.0901% | |
| S2 | 1.09 | -1.80% | ||
| S3 | 1.00 | -10.00% |
FAQ
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