Arqit Quantum Inc. Stock Forecast
Arqit Quantum Inc. stock price down 4.51% on Friday
(Updated on May 03, 2024)
The Arqit Quantum Inc. stock price fell by -4.51% on the last day (Friday, 3rd May 2024) from $0.430 to $0.411. During the last trading day the stock fluctuated 6.94% from a day low at $0.402 to a day high of $0.430. The price has fallen in 6 of the last 10 days and is down by -12.94% for this period. Volume has increased on the last day by 528 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 million shares were bought and sold for approximately $922.59 thousand.
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 -15.79% during the next 3 months and, with a 90% probability hold a price between $0.249 and $0.640 at the end of this 3-month period.
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ARQQ Signals & Forecast
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. The Arqit Quantum 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 $0.452 and $0.577. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 08, 2024, and so far it has fallen -51.71%. Further fall is indicated until a new bottom pivot has been found. Arqit Quantum Inc. 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".
Support, Risk & Stop-loss for Arqit Quantum Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.0279 between high and low, or 6.94%. For the last week, the stock has had daily average volatility of 17.81%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ARQQ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Arqit Quantum Inc. to open at $0.414, and during the day (based on 14 day Average True Range), to move between $0.353 and $0.468, which gives a possible trading interval of +/-$0.0572 (+/-13.93%) up or down from last closing price. If Arqit Quantum Inc. takes out the full calculated possible swing range there will be an estimated 27.86% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.432, some $0.0212 (5.16%) from the current price of $0.411, our system finds the risk reward not very attractive.
Is Arqit Quantum Inc. stock A Buy?
Arqit Quantum 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: -6.385 Strong Sell Candidate Unchanged
Predicted Opening Price for Arqit Quantum Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.414 ( 0.90%) | $0.411 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ARQQ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.442 | 7.70 % | |
| R2 | 0.431 | 5.10 % | ||
| R1 | 0.425 | 3.50 % | ||
| Current price: | 0.411 | |||
| Support | S1 | 0.404 | -1.69 % | |
| S2 | 0.397 | -3.30 % | ||
| S3 | 0.386 | -5.90 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.469 | 14.20 % | |
| R2 | 0.460 | 12.06 % | ||
| R1 | 0.432 | 5.16 % | ||
| Current price | 0.411 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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