Arlo Technologies Inc. Stock Forecast
Stronger technical forecast for Arlo Technologies Inc. stock price after Tuesday trading.
(Updated on Jul 02, 2024)
The Arlo Technologies Inc. stock price gained 2.58% on the last trading day (Tuesday, 2nd Jul 2024), rising from $12.80 to $13.13. During the last trading day the stock fluctuated 3.62% from a day low at $12.70 to a day high of $13.16. The price has risen in 6 of the last 10 days and is up by 1.78% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 95 thousand more shares were traded than the day before. In total, 576 thousand shares were bought and sold for approximately $7.57 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 18.20% during the next 3 months and, with a 90% probability hold a price between $14.66 and $18.52 at the end of this 3-month period.
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ARLO Signals & Forecast
The Arlo Technologies Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $12.87 and $12.98. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 4.54%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
A sell signal from a double top formation was found on Thursday, May 30, 2024 and based on theory for this formation the price should fall by -9.72% to $11.85 within 15 trading days since signal was issued (Friday, June 21, 2024).
Support, Risk & Stop-loss for Arlo Technologies Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $12.03 and $11.44. 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, Arlo Technologies Inc. finds support just below today's level at $12.03. If this is broken, then the next support from accumulated volume will be at $11.44 and $11.29.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.460 between high and low, or 3.62%. For the last week, the stock has had daily average volatility of 3.38%.
Our recommended stop-loss: $12.35 (-5.98%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 22 days ago.)
Trading Expectations (ARLO) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Arlo Technologies Inc. to open at $13.00, and during the day (based on 14 day Average True Range), to move between $12.61 and $13.65, which gives a possible trading interval of +/-$0.523 (+/-3.98%) up or down from last closing price. If Arlo Technologies Inc. takes out the full calculated possible swing range there will be an estimated 7.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $13.89 (5.79%) than the support at $12.03 (8.38%), 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 Arlo Technologies Inc. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Arlo Technologies Inc. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.891 Buy Candidate Upgraded
Predicted Opening Price for Arlo Technologies Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $13.00 ( 1.02%) | $13.13 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ARLO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.46 | 2.49% |
| R2 | 13.28 | 1.15% |
| R1 | 13.17 | 0.323% |
| Price | 13.13 | |
| S1 | 12.82 | -2.35% |
| S2 | 12.71 | -3.18% |
| S3 | 12.54 | -4.52% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 14.00 | 6.63% |
| R2 | 13.93 | 6.09% |
| R1 | 13.89 | 5.79% |
| Price | 13.13 | |
| S1 | 12.03 | -8.38% |
| S2 | 11.44 | -12.87% |
| S3 | 11.29 | -14.01% |
FAQ
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