Aurora Innovation Inc - Class A Stock Forecast
Volatile ride for Aurora Innovation Inc - Class A stock price on Friday moving between $2.96 and $3.41
(Updated on May 03, 2024)
The Aurora Innovation Inc - Class A stock price gained 12.29% on the last trading day (Friday, 3rd May 2024), rising from $2.93 to $3.29. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 15.20% from a day low at $2.96 to a day high of $3.41. The price has risen in 6 of the last 10 days and is up by 17.5% 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, 10 million more shares were traded than the day before. In total, 15 million shares were bought and sold for approximately $48.50 million.
The stock lies in the upper part of a very wide and weak rising 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 $3.45 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 3.66% during the next 3 months and, with a 90% probability hold a price between $2.33 and $3.58 at the end of this 3-month period.
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AUR Signals & Forecast
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 $2.96 and $2.83. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 11, 2024, and so far it has risen 51.61%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. 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 Aurora Innovation Inc - Class A stock
On the downside, the stock finds support just below today's level from accumulated volume at $3.05 and $3.02. 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, Aurora Innovation Inc - Class A finds support just below today's level at $3.05. If this is broken, then the next support from accumulated volume will be at $3.02 and $3.00.
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 $0.450 between high and low, or 15.20%. For the last week, the stock has had daily average volatility of 9.77%.
Our recommended stop-loss: $3.16 (-3.80%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 38 days ago.)
Trading Expectations (AUR) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Aurora Innovation Inc - Class A to open at $3.22, and during the day (based on 14 day Average True Range), to move between $3.08 and $3.50, which gives a possible trading interval of +/-$0.210 (+/-6.37%) 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 12.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.32 (0.91%) than the support at $3.05 (7.29%), 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.
Earnings coming up
Aurora Innovation Inc - Class A will release earnings AMC on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.140. We will update the financials statements for Aurora Innovation Inc - Class A, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.27% in the first trading day after earnings release.
Is Aurora Innovation Inc - Class A stock A Buy?
Aurora Innovation Inc - Class A holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 6.344 Strong Buy Candidate Upgraded
Predicted Opening Price for Aurora Innovation Inc - Class A of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
$3.22 ( 2.13%) | $3.29 |
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 | |||
---|---|---|---|---|
Resistance | R3 | 3.67 | 11.55 % | |
R2 | 3.50 | 6.33 % | ||
R1 | 3.39 | 3.10 % | ||
Current price: | 3.29 | |||
Support | S1 | 3.05 | -7.35 % | |
S2 | 2.94 | -10.58 % | ||
S3 | 2.77 | -15.81 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 3.34 | 1.52 % | ||
R1 | 3.32 | 0.91 % | ||
Current price | 3.29 | |||
Support | S1 | 3.05 | -7.29% | |
S2 | 3.02 | -8.21% | ||
S3 | 3.00 | -8.81% |
FAQ
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