Arax Holdings Corp. Stock Forecast

Arax Holdings Corp. stock price fell more than -10.00% Friday closing at $1.08
(Updated on Jun 28, 2024)

ARAT Signals & Forecast

The Arax Holdings 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 $1.08 and $1.01. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, June 27, 2024, and so far it has fallen -10.00%. Further fall is indicated until a new bottom pivot has been found. Arax Holdings Corp. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Arax Holdings Corp. stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.90 and $0.90. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Arax Holdings Corp. finds support just below today's level at $0.90. If this is broken, then the next support from accumulated volume will be at $0.90 and $0.89.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0100 between high and low, or 0.93%. For the last week, the stock has had daily average volatility of 4.19%.

Our recommended stop-loss: $1.03 (-4.96%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (ARAT) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Arax Holdings Corp. to open at $1.08, and during the day (based on 14 day Average True Range), to move between $0.92 and $1.24, which gives a possible trading interval of +/-$0.156 (+/-14.42%) up or down from last closing price. If Arax Holdings Corp. takes out the full calculated possible swing range there will be an estimated 28.84% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $1.10 (1.85%) than the support at $0.90 (16.67%), 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 Arax Holdings Corp. stock A Buy?

Arax Holdings Corp. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Arax Holdings Corp. of Monday, July 1, 2024

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