Astra Energy Inc. Stock Forecast
Big movements in Astra Energy Inc. stock price on Thursday moving 16.50% between high and low
(Updated on May 16, 2024)
The Astra Energy Inc. stock price gained 3.19% on the last trading day (Thursday, 16th May 2024), rising from $0.107 to $0.110. During the last trading day the stock fluctuated 16.50% from a day low at $0.103 to a day high of $0.120. The price has fallen in 5 of the last 10 days but is still up by 8.7% 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, 194 thousand more shares were traded than the day before. In total, 233 thousand shares were bought and sold for approximately $25.64 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 -23.47% during the next 3 months and, with a 90% probability hold a price between $0.0727 and $0.0939 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.
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ASRE Signals & Forecast
There are mixed signals in the stock today. The Astra Energy 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 $0.110 and $0.120. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has risen 8.70%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Astra Energy Inc. 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.
Support, Risk & Stop-loss for Astra Energy Inc. stock
Astra Energy Inc. finds support from accumulated volume at $0.107 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.0170 between high and low, or 16.50%. For the last week, the stock has had daily average volatility of 13.93%.
Our recommended stop-loss: $0.105 (-4.40%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (ASRE) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Astra Energy Inc. to open at $0.111, and during the day (based on 14 day Average True Range), to move between $0.0947 and $0.125, which gives a possible trading interval of +/-$0.0153 (+/-13.87%) up or down from last closing price. If Astra Energy Inc. takes out the full calculated possible swing range there will be an estimated 27.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.107 (3.09%) than the resistance at $0.129 (17.27%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Astra Energy Inc. stock A Buy?
Astra Energy Inc. 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Hold/Accumulate candidate.
Current score: -0.782 Hold/Accumulate Upgraded
Predicted Opening Price for Astra Energy Inc. of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| $0.111 ( 0.91%) | $0.110 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ASRE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.128 | 16.36 % | |
| R2 | 0.122 | 10.46 % | ||
| R1 | 0.117 | 6.81 % | ||
| Current price: | 0.110 | |||
| Support | S1 | 0.105 | -4.99 % | |
| S2 | 0.100 | -8.64 % | ||
| S3 | 0.0940 | -14.55 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.137 | 24.09 % | |
| R2 | 0.130 | 18.18 % | ||
| R1 | 0.129 | 17.27 % | ||
| Current price | 0.110 | |||
| Support | S1 | 0.107 | -3.09% | |
| S2 | 0.106 | -3.64% | ||
| S3 | 0.101 | -8.00% |
FAQ
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