American Oncology Network, Inc. Stock Forecast
High volatility in American Oncology Network, Inc. stock price on Tuesday which ended trading at $1.06
(Updated on Jun 18, 2024)
The American Oncology Network, Inc. stock price fell by -7.02% on the last day (Tuesday, 18th Jun 2024) from $1.14 to $1.06. During the last trading day the stock fluctuated 10.78% from a day low at $1.02 to a day high of $1.13. The price has fallen in 6 of the last 10 days and is down by -68.26% 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 -356 shares and in total, 8 thousand shares were bought and sold for approximately $8.50 thousand.
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. Given the current short-term trend, the stock is expected to fall -65.17% during the next 3 months and, with a 90% probability hold a price between $0.128 and $0.89 at the end of this 3-month period. 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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AONC 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 American Oncology Network, 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 $1.78 and $2.86. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 31, 2024, and so far it has fallen -68.26%. Further fall is indicated until a new bottom pivot has been found. 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.
Support, Risk & Stop-loss for American Oncology Network, Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.110 between high and low, or 10.78%. For the last week the stock has had daily average volatility of 4.75%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AONC) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect American Oncology Network, Inc. to open at $1.07, and during the day (based on 14 day Average True Range), to move between $0.449 and $1.67, which gives a possible trading interval of +/-$0.611 (+/-57.69%) up or down from last closing price. If American Oncology Network, Inc. takes out the full calculated possible swing range there will be an estimated 115.37% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $1.14, some $0.0800 (7.55%) from the current price of $1.06, our system finds the risk reward not very attractive.
Is American Oncology Network, Inc. stock A Buy?
American Oncology Network, Inc. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Sell candidate.
Current score: -8.171 Strong Sell Candidate Downgraded
Predicted Opening Price for American Oncology Network, Inc. of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| $1.07 ( 0.94%) | $1.06 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AONC
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.18 | 11.32% |
| R2 | 1.14 | 7.36% |
| R1 | 1.11 | 4.91% |
| Price | 1.06 | |
| S1 | 1.03 | -3.02% |
| S2 | 1.00 | -5.47% |
| S3 | 0.96 | -9.43% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 1.14 | 7.55% |
| Price | 1.06 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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