Arway Corporation Stock Forecast
Big movements in Arway Corporation stock price on Friday moving 36.36% between high and low
(Updated on Jun 28, 2024)
The Arway Corporation stock price fell by -3.85% on the last day (Friday, 28th Jun 2024) from $0.130 to $0.125. It has now fallen 6 days in a row. During the last trading day the stock fluctuated 36.36% from a day low at $0.110 to a day high of $0.150. The price has fallen in 7 of the last 10 days and is down by -43.18% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -20 thousand shares and in total, 35 thousand shares were bought and sold for approximately $4.36 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 $0.118 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -37.29% during the next 3 months and, with a 90% probability hold a price between $0.0740 and $0.201 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ARWY.CN Signals & Forecast
There are few to no technical positive signals at the moment. The Arway Corporation 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 $0.171 and $0.234. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -68.75%. 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 fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Arway Corporation 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 very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0400 between high and low, or 36.36%. For the last week the stock has had daily average volatility of 24.71%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ARWY.CN) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Arway Corporation to open at $0.128, and during the day (based on 14 day Average True Range), to move between $0.0887 and $0.161, which gives a possible trading interval of +/-$0.0363 (+/-29.07%) up or down from last closing price. If Arway Corporation takes out the full calculated possible swing range there will be an estimated 58.14% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.130, some $0.0050 (4.00%) from the current price of $0.125, our system finds the risk reward not very attractive.
Is Arway Corporation stock A Buy?
Arway Corporation 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: -6.366 Strong Sell Candidate Unchanged
Predicted Opening Price for Arway Corporation of Tuesday, July 2, 2024
Fair opening price July 2, 2024 | Current price |
---|---|
$0.128 ( 2.67%) | $0.125 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ARWY.CN
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.168 | 34.67% |
R2 | 0.153 | 22.44% |
R1 | 0.144 | 14.89% |
Price | 0.125 | |
S1 | 0.113 | -9.56% |
S2 | 0.104 | -17.11% |
S3 | 0.0883 | -29.33% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 0 | - |
R1 | 0.130 | 4.00% |
Price | 0.125 | |
S1 | 0 | - |
S2 | 0 | - |
S3 | 0 | - |
FAQ
Click here for our free guide on how to buy Arway Corporation Stock.