ARB IOT Group Limited Stock Forecast
Big movements in ARB IOT Group Limited stock price on Wednesday moving 11.96% between high and low
(Updated on Jun 26, 2024)
The ARB IOT Group Limited stock price gained 5.08% on the last trading day (Wednesday, 26th Jun 2024), rising from $0.473 to $0.497. During the last trading day the stock fluctuated 11.96% from a day low at $0.445 to a day high of $0.498. The price has fallen in 6 of the last 10 days and is down by -24.02% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 thousand more shares were traded than the day before. In total, 69 thousand shares were bought and sold for approximately $34.07 thousand.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.460 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -53.03% during the next 3 months and, with a 90% probability hold a price between $0.216 and $0.333 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ARBB Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 5.08%. Further rise is indicated until a new top pivot has been found. ARB IOT Group Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The ARB IOT Group Limited 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 $0.516 and $0.756. 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).
Support, Risk & Stop-loss for ARB IOT Group Limited stock
ARB IOT Group Limited finds support from accumulated volume at $0.473 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 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 $0.0532 between high and low, or 11.96%. For the last week, the stock has had daily average volatility of 6.75%.
ARB IOT Group Limited is oversold on RSI14 (15). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ARBB) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect ARB IOT Group Limited to open at $0.480, and during the day (based on 14 day Average True Range), to move between $0.447 and $0.547, which gives a possible trading interval of +/-$0.0502 (+/-10.10%) up or down from last closing price. If ARB IOT Group Limited takes out the full calculated possible swing range there will be an estimated 20.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.510 (2.64%) than the support at $0.473 (4.83%), 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 ARB IOT Group Limited stock A Buy?
ARB IOT Group Limited 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.914 Sell Candidate Upgraded
Predicted Opening Price for ARB IOT Group Limited of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $0.480 ( 3.42%) | $0.497 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ARBB
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.533 | 7.29% |
| R2 | 0.513 | 3.20% |
| R1 | 0.500 | 0.669% |
| Price | 0.497 | |
| S1 | 0.460 | -7.51% |
| S2 | 0.447 | -10.04% |
| S3 | 0.427 | -14.13% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.591 | 18.94% |
| R2 | 0.529 | 6.38% |
| R1 | 0.510 | 2.64% |
| Price | 0.497 | |
| S1 | 0.473 | -4.83% |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
Click here for our free guide on how to buy ARB IOT Group Limited Stock.
