Arogo Capital Acquisition Corp. Stock Forecast
Stronger technical forecast for Arogo Capital Acquisition Corp. stock price after Monday trading.
(Updated on Jun 24, 2024)
The Arogo Capital Acquisition Corp. stock price gained 0.0911% on the last trading day (Monday, 24th Jun 2024), rising from $10.98 to $10.99. During the last trading day the stock fluctuated 0.0911% from a day low at $10.98 to a day high of $10.99. The price has been going up and down for this period, and there has been a 0.83% gain for the last 2 weeks. Volume fell on the last day by -5 thousand shares and in total, 533 shares were bought and sold for approximately $5.86 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Arogo Capital Acquisition Corp. stock with a 90% probability to be traded between $11.07 and $11.17 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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AOGO Signals & Forecast
The Arogo Capital Acquisition Corp. 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 $10.98 and $10.93. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 07, 2024, and so far it has risen 0.83%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Thursday, April 04, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Thursday, April 04, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
A buy signal from a double bottom formation was found on Friday, June 07, 2024 with a target of $10.97. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for Arogo Capital Acquisition Corp. stock
Arogo Capital Acquisition Corp. finds support from accumulated volume at $10.95 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.0100 between high and low, or 0.0911%. For the last week the stock has had daily average volatility of 0.437%
Our recommended stop-loss: $10.44 (-5.02%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (AOGO) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect Arogo Capital Acquisition Corp. to open at $10.99, and during the day (based on 14 day Average True Range), to move between $10.92 and $11.06, which gives a possible trading interval of +/-$0.0686 (+/-0.62%) up or down from last closing price. If Arogo Capital Acquisition Corp. takes out the full calculated possible swing range there will be an estimated 1.25% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $10.95, some $0.0399 (0.36%) from the current price of $10.99, our system finds the risk reward attractive.
Is Arogo Capital Acquisition Corp. stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Arogo Capital Acquisition Corp. stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.055 Buy Candidate Upgraded
Predicted Opening Price for Arogo Capital Acquisition Corp. of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| $10.99 ( 0.0303%) | $10.99 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AOGO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.00 | 0.0607% |
| R2 | 10.99 | 0.0259% |
| R1 | 10.99 | 0.0044% |
| Price | 10.99 | |
| S1 | 10.98 | -0.0651% |
| S2 | 10.98 | -0.0866% |
| S3 | 10.98 | -0.121% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 10.99 | |
| S1 | 10.95 | -0.363% |
| S2 | 10.91 | -0.728% |
| S3 | 10.90 | -0.82% |
FAQ
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