Altigen Communications, Inc Stock Forecast
Red day on Wednesday for Altigen Communications, Inc
(Updated on May 01, 2024)
No changes to the price of Altigen Communications, Inc stock on the last trading day (Wednesday, 1st May 2024). During the last trading day the stock fluctuated 4.39% from a day low at $0.762 to a day high of $0.795. The price has fallen in 5 of the last 10 days and is down by -0.61% for this period.
The stock lies in the middle of a 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 -2.44% during the next 3 months and, with a 90% probability hold a price between $0.709 and $0.85 at the end of this 3-month period.
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ATGN Signals & Forecast
The Altigen Communications, Inc 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 $0.768 and $0.784. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 8.90%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Altigen Communications, Inc stock
Altigen Communications, Inc finds support from accumulated volume at $0.770 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0335 between high and low, or 4.39%. For the last week the stock has had daily average volatility of 6.01%.
Our recommended stop-loss: $0.765 (-3.80%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (ATGN) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Altigen Communications, Inc to open at $0.784, and during the day (based on 14 day Average True Range), to move between $0.753 and $0.84, which gives a possible trading interval of +/-$0.0420 (+/-5.28%) up or down from last closing price. If Altigen Communications, Inc takes out the full calculated possible swing range there will be an estimated 10.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.80 (0.63%) than the support at $0.770 (3.14%), 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 Altigen Communications, 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.
Current score: 1.826 Buy Candidate Unchanged
Predicted Opening Price for Altigen Communications, Inc of Thursday, May 2, 2024
Fair opening price May 2, 2024 | Current price |
---|---|
$0.784 ( 1.40%) | $0.795 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ATGN
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.82 | 2.81 % | |
R2 | 0.80 | 1.20 % | ||
R1 | 0.797 | 0.205 % | ||
Current price: | 0.795 | |||
Support | S1 | 0.771 | -3.01 % | |
S2 | 0.763 | -4.00 % | ||
S3 | 0.750 | -5.61 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.84 | 5.12 % | |
R2 | 0.83 | 4.40 % | ||
R1 | 0.80 | 0.629 % | ||
Current price | 0.795 | |||
Support | S1 | 0.770 | -3.14% | |
S2 | 0.715 | -10.06% | ||
S3 | 0.713 | -10.31% |
FAQ
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