American Oncology Network, Inc. Stock Forecast
Volatile ride for American Oncology Network, Inc. stock price on Friday moving between $1.15 and $1.44
(Updated on Jun 21, 2024)
The American Oncology Network, Inc. stock price gained 7.46% on the last trading day (Friday, 21st Jun 2024), rising from $1.34 to $1.44. During the last trading day the stock fluctuated 25.22% from a day low at $1.15 to a day high of $1.44. The price has fallen in 4 of the last 10 days and is down by -38.72% for this period. Volume fell on the last day by -5 thousand shares and in total, 20 thousand shares were bought and sold for approximately $28.83 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 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 -67.15% during the next 3 months and, with a 90% probability hold a price between $0.0542 and $0.779 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
A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has risen 35.85%. Further rise is indicated until a new top pivot has been found. 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 $1.63 and $2.70. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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.
Support, Risk & Stop-loss for American Oncology Network, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.34 and $1.14. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $1.14 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 $0.290 between high and low, or 25.22%. For the last week the stock has had daily average volatility of 16.88%.
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 Monday 24th
For the upcoming trading day on Monday, 24th we expect American Oncology Network, Inc. to open at $1.34, and during the day (based on 14 day Average True Range), to move between $0.86 and $2.02, which gives a possible trading interval of +/-$0.577 (+/-40.04%) 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 80.08% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.34 (6.94%) than the resistance at $1.70 (18.06%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
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.
Current score: -4.770 Sell Candidate Unchanged
Predicted Opening Price for American Oncology Network, Inc. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $1.34 ( 6.71%) | $1.44 |
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 | 1.63 | 13.43% |
| R2 | 1.52 | 5.73% |
| R1 | 1.45 | 0.98% |
| Price | 1.44 | |
| S1 | 1.23 | -14.41% |
| S2 | 1.16 | -19.16% |
| S3 | 1.05 | -26.85% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 1.70 | 18.06% |
| Price | 1.44 | |
| S1 | 1.34 | -6.94% |
| S2 | 1.14 | -20.83% |
| S3 | 0 | - |
FAQ
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