Aurora Innovation Inc - Class A Stock Forecast
Aurora Innovation Inc - Class A stock price ended at $2.87 on Tuesday, after gaining 2.14%.
(Updated on Jul 02, 2024)
The Aurora Innovation Inc - Class A stock price gained 2.14% on the last trading day (Tuesday, 2nd Jul 2024), rising from $2.81 to $2.87. It has now gained 8 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 2.86% from a day low at $2.80 to a day high of $2.88. The price has risen in 8 of the last 10 days and is up by 16.67% over the past 2 weeks. Volume fell on the last day by -3 million shares and in total, 4 million shares were bought and sold for approximately $12.40 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 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 -19.58% during the next 3 months and, with a 90% probability hold a price between $1.52 and $2.54 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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AUR Signals & Forecast
Mostly positive signals in the chart today. The Aurora Innovation Inc - Class A 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 $2.67 and $2.53. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 35.38%. 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). 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.
Support, Risk & Stop-loss for Aurora Innovation Inc - Class A stock
Aurora Innovation Inc - Class A finds support from accumulated volume at $2.77 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.0800 between high and low, or 2.86%. For the last week, the stock has had daily average volatility of 6.33%.
Since the Aurora Innovation Inc - Class A has been rising for 8 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: $2.78 (-3.10%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 36 days ago.)
Trading Expectations (AUR) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Aurora Innovation Inc - Class A to open at $2.85, and during the day (based on 14 day Average True Range), to move between $2.70 and $3.04, which gives a possible trading interval of +/-$0.173 (+/-6.01%) up or down from last closing price. If Aurora Innovation Inc - Class A takes out the full calculated possible swing range there will be an estimated 12.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.77 (3.48%) than the resistance at $3.00 (4.53%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Aurora Innovation Inc - Class A 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: 1.768 Buy Candidate Unchanged
Predicted Opening Price for Aurora Innovation Inc - Class A of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $2.85 ( 0.697%) | $2.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AUR
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.93 | 2.09% |
| R2 | 2.90 | 1.03% |
| R1 | 2.88 | 0.368% |
| Price | 2.87 | |
| S1 | 2.82 | -1.76% |
| S2 | 2.80 | -2.42% |
| S3 | 2.77 | -3.48% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.05 | 6.27% |
| R2 | 3.02 | 5.23% |
| R1 | 3.00 | 4.53% |
| Price | 2.87 | |
| S1 | 2.77 | -3.48% |
| S2 | 2.53 | -11.85% |
| S3 | 2.33 | -18.82% |
FAQ
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