Anghami Inc. Stock Forecast
Anghami Inc. stock price fell more than -10.94% Tuesday closing at $0.0285
(Updated on Jun 25, 2024)
The Anghami Inc. stock price fell by -10.94% on the last day (Tuesday, 25th Jun 2024) from $0.0320 to $0.0285. During the last trading day the stock fluctuated 8.77% from a day low at $0.0285 to a day high of $0.0310. The price has fallen in 7 of the last 10 days and is down by -4.68% for this period. 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 -4 thousand shares and in total, 6 thousand shares were bought and sold for approximately $157.72 .
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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ANGHW Signals & Forecast
There are mixed signals in the stock today. 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 $0.0335 and $0.0473. A break-up above any of these levels will issue buy signals. 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. A buy signal was issued from a pivot bottom point on Thursday, June 20, 2024, and so far it has risen 13.55%. 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).
Support, Risk & Stop-loss for Anghami Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0251. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.
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 $0.0025 between high and low, or 8.77%. For the last week the stock has had daily average volatility of 18.98%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ANGHW) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Anghami Inc. to open at $0.0293, and during the day (based on 14 day Average True Range), to move between $0.0154 and $0.0416, which gives a possible trading interval of +/-$0.0131 (+/-45.94%) up or down from last closing price. If Anghami Inc. takes out the full calculated possible swing range there will be an estimated 91.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0295 (3.51%) than the support at $0.0251 (11.93%), 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 we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.249 Sell Candidate Upgraded
Predicted Opening Price for Anghami Inc. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $0.0293 ( 2.92%) | $0.0285 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ANGHW
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0318 | 11.70% |
| R2 | 0.0309 | 8.35% |
| R1 | 0.0303 | 6.27% |
| Price | 0.0285 | |
| S1 | 0.0284 | -0.427% |
| S2 | 0.0278 | -2.50% |
| S3 | 0.0268 | -5.85% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0312 | 9.47% |
| R2 | 0.0300 | 5.26% |
| R1 | 0.0295 | 3.51% |
| Price | 0.0285 | |
| S1 | 0.0251 | -11.93% |
| S2 | 0 | - |
| S3 | 0 | - |
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