Astra Space Stock Forecast

Astra Space stock upgraded to Buy Candidate.
(Updated on Apr 24, 2024)

ASTR Signals & Forecast

The Astra Space 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 $0.618 and $0.621. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 18, 2024, and so far it has risen 21.32%. Further rise is indicated until a new top pivot has been found. Astra Space 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. 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 Astra Space stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.584 and $0.580. 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, Astra Space finds support just below today's level at $0.584. If this is broken, then the next support from accumulated volume will be at $0.580 and $0.575.

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 $0.0420 between high and low, or 6.89%. For the last week, the stock has had daily average volatility of 8.12%.

Our recommended stop-loss: $0.618 (-3.96%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 26 days ago.)

Trading Expectations (ASTR) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Astra Space, Inc. to open at $0.635, and during the day (based on 14 day Average True Range), to move between $0.576 and $0.710, which gives a possible trading interval of +/-$0.0665 (+/-10.34%) up or down from last closing price. If Astra Space, Inc. takes out the full calculated possible swing range there will be an estimated 20.69% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.648 (0.78%) than the support at $0.584 (9.18%), 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 Astra Space, Inc. stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.861 Buy Candidate Upgraded

Predicted Opening Price for Astra Space, Inc. of Thursday, April 25, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.