Appen Limited Stock Forecast

Big movements in Appen Limited stock price on Friday moving 10.43% between high and low
(Updated on May 10, 2024)

APX.AX Signals & Forecast

There are mixed signals in the stock today. The Appen Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.642. On a fall, the stock will find some support from the short-term average at $0.606. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Tuesday, March 12, 2024, and so far it has fallen -42.13%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for Appen Limited stock

Appen Limited finds support from accumulated volume at $0.605 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 $0.0600 between high and low, or 10.43%. For the last week, the stock has had daily average volatility of 5.98%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (APX.AX) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect Appen Limited to open at $0.612, and during the day (based on 14 day Average True Range), to move between $0.575 and $0.675, which gives a possible trading interval of +/-$0.0503 (+/-8.05%) up or down from last closing price. If Appen Limited takes out the full calculated possible swing range there will be an estimated 16.11% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.605 (3.20%) than the resistance at $0.660 (5.60%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Appen Limited stock A Buy?

Appen Limited 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: -2.521 Sell Candidate Upgraded

Predicted Opening Price for Appen Limited of Monday, May 13, 2024

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