Anghami Inc. Stock Forecast

Stronger technical forecast for Anghami Inc. stock price after Monday trading.
(Updated on May 06, 2024)

ANGH Signals & Forecast

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. 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 $1.10 and $1.33. 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 -46.50%. Further fall is indicated until a new bottom pivot has been found. 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". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Anghami Inc. stock

Anghami Inc. finds support from accumulated volume at $1.04 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0700 between high and low, or 6.67%. For the last week, the stock has had daily average volatility of 5.08%.

Anghami Inc. is oversold on RSI14 (17). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: $1.01 (-5.66%) (This stock has high daily movements and this gives high risk. Low RSI14 is 17 which reduces the risk some. There is a sell signal from a pivot top found 28 days ago.)

Trading Expectations (ANGH) For The Upcoming Trading Day Of Tuesday 7th

For the upcoming trading day on Tuesday, 7th we expect Anghami Inc. to open at $1.08, and during the day (based on 14 day Average True Range), to move between $0.95 and $1.19, which gives a possible trading interval of +/-$0.123 (+/-11.45%) up or down from last closing price. If Anghami Inc. takes out the full calculated possible swing range there will be an estimated 22.90% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $1.09 (1.87%) than the support at $1.04 (2.81%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Anghami Inc. stock A Buy?

Anghami Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.849 Hold/Accumulate Upgraded

Predicted Opening Price for Anghami Inc. of Tuesday, May 7, 2024

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