Astrana Health, Inc. Stock Forecast
Evaluation of Astrana Health, Inc. stock downgraded after the last trading session.
(Updated on Jun 17, 2024)
The Astrana Health, Inc. stock price gained 1.29% on the last trading day (Monday, 17th Jun 2024), rising from $39.49 to $40.00. During the last trading day the stock fluctuated 3.18% from a day low at $38.89 to a day high of $40.12. The price has been going up and down for this period, and there has been a -5.3% loss for the last 2 weeks. Volume fell on the last day by -21 thousand shares and in total, 129 thousand shares were bought and sold for approximately $5.15 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Astrana Health, Inc. stock with a 90% probability to be traded between $35.89 and $41.90 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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ASTH Signals & Forecast
The Astrana Health, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $39.73 and $39.49. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 13, 2024, and so far it has risen 2.88%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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).
Support, Risk & Stop-loss for Astrana Health, Inc. stock
Astrana Health, Inc. finds support from accumulated volume at $39.97 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 $1.24 between high and low, or 3.18%. For the last week, the stock has had daily average volatility of 4.19%.
Our recommended stop-loss: $38.05 (-4.87%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (ASTH) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Astrana Health, Inc. to open at $39.67, and during the day (based on 14 day Average True Range), to move between $38.51 and $41.49, which gives a possible trading interval of +/-$1.49 (+/-3.72%) up or down from last closing price. If Astrana Health, Inc. takes out the full calculated possible swing range there will be an estimated 7.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $39.97 (0.08%) than the resistance at $40.06 (0.15%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Astrana Health, Inc. stock A Buy?
Astrana Health, 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.868 Hold/Accumulate Downgraded
Predicted Opening Price for Astrana Health, Inc. of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $39.67 ( 0.83%) | $40.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ASTH
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 40.90 | 2.26% |
| R2 | 40.43 | 1.08% |
| R1 | 40.14 | 0.350% |
| Price | 40.00 | |
| S1 | 39.20 | -2.01% |
| S2 | 38.91 | -2.74% |
| S3 | 38.43 | -3.92% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 42.06 | 5.15% |
| R2 | 41.43 | 3.58% |
| R1 | 40.06 | 0.150% |
| Price | 40.00 | |
| S1 | 39.97 | -0.0750% |
| S2 | 39.38 | -1.55% |
| S3 | 39.15 | -2.13% |
FAQ
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