Astra Space Stock Forecast
Astra Space stock price up 1.60% on Friday
(Updated on May 03, 2024)
The Astra Space stock price gained 1.60% on the last trading day (Friday, 3rd May 2024), rising from $0.650 to $0.660. During the last trading day the stock fluctuated 7.80% from a day low at $0.640 to a day high of $0.690. The price has risen in 7 of the last 10 days and is up by 8.2% 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, 20 thousand more shares were traded than the day before. In total, 62 thousand shares were bought and sold for approximately $41.16 thousand.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.711 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. 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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ASTR Signals & Forecast
The Astra Space stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $0.671. On a fall, the stock will find some support from the long-term average at approximately $0.631. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Monday, March 18, 2024, and so far it has risen 24.53%. 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 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.
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 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 $0.0499 between high and low, or 7.80%. For the last week, the stock has had daily average volatility of 9.72%.
Our recommended stop-loss: $0.636 (-3.70%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 33 days ago.)
Trading Expectations (ASTR) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Astra Space, Inc. to open at $0.663, and during the day (based on 14 day Average True Range), to move between $0.595 and $0.725, which gives a possible trading interval of +/-$0.0653 (+/-9.90%) up or down from last closing price. If Astra Space, Inc. takes out the full calculated possible swing range there will be an estimated 19.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.679 (2.88%) than the support at $0.584 (11.52%), 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?
Astra Space 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.
Current score: 0.172 Hold/Accumulate Unchanged
Predicted Opening Price for Astra Space, Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.663 ( 0.510%) | $0.660 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ASTR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.713 | 8.07 % | |
| R2 | 0.694 | 5.18 % | ||
| R1 | 0.682 | 3.40 % | ||
| Current price: | 0.660 | |||
| Support | S1 | 0.644 | -2.38 % | |
| S2 | 0.633 | -4.16 % | ||
| S3 | 0.613 | -7.05 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.80 | 21.24 % | |
| R2 | 0.682 | 3.33 % | ||
| R1 | 0.679 | 2.88 % | ||
| Current price | 0.660 | |||
| Support | S1 | 0.584 | -11.52% | |
| S2 | 0.580 | -12.12% | ||
| S3 | 0.575 | -12.88% |
FAQ
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