Aveanna Healthcare Holdings Inc. Stock Forecast
Aveanna Healthcare Holdings Inc. stock upgraded to Hold/Accumulate.
(Updated on May 03, 2024)
The Aveanna Healthcare Holdings Inc. stock price gained 2.64% on the last trading day (Friday, 3rd May 2024), rising from $2.27 to $2.33. During the last trading day the stock fluctuated 7.17% from a day low at $2.23 to a day high of $2.39. The price has risen in 4 of the last 10 days and is up by 1.75% over the past 2 weeks. Volume fell on the last day by -17 thousand shares and in total, 70 thousand shares were bought and sold for approximately $163.12 thousand. 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 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 -3.65% during the next 3 months and, with a 90% probability hold a price between $2.04 and $2.48 at the end of this 3-month period.
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AVAH Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 7.87%. 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. The Aveanna Healthcare Holdings Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $2.38. On a fall, the stock will find some support from the short-term average at $2.25. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
A sell signal from a double top formation was found on Friday, April 05, 2024 with a target of $2.48. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for Aveanna Healthcare Holdings Inc. stock
Aveanna Healthcare Holdings Inc. finds support from accumulated volume at $2.29 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 $0.160 between high and low, or 7.17%. For the last week the stock has had daily average volatility of 5.03%.
Our recommended stop-loss: $2.24 (-4.02%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (AVAH) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Aveanna Healthcare Holdings Inc. to open at $2.32, and during the day (based on 14 day Average True Range), to move between $2.18 and $2.48, which gives a possible trading interval of +/-$0.149 (+/-6.38%) up or down from last closing price. If Aveanna Healthcare Holdings Inc. takes out the full calculated possible swing range there will be an estimated 12.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.29 (1.72%) than the resistance at $2.47 (6.01%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Aveanna Healthcare Holdings Inc. will release earnings BMO on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.0500. We will update the financials statements for Aveanna Healthcare Holdings Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 13.62% in the first trading day after earnings release.
Is Aveanna Healthcare Holdings Inc. stock A Buy?
Aveanna Healthcare Holdings Inc. 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.007 Hold/Accumulate Upgraded
Predicted Opening Price for Aveanna Healthcare Holdings Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $2.32 ( 0.572%) | $2.33 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AVAH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.48 | 6.29 % | |
| R2 | 2.42 | 3.67 % | ||
| R1 | 2.38 | 2.05 % | ||
| Current price: | 2.33 | |||
| Support | S1 | 2.26 | -3.20 % | |
| S2 | 2.22 | -4.82 % | ||
| S3 | 2.16 | -7.44 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.50 | 7.30 % | |
| R2 | 2.49 | 6.87 % | ||
| R1 | 2.47 | 6.01 % | ||
| Current price | 2.33 | |||
| Support | S1 | 2.29 | -1.72% | |
| S2 | 2.27 | -2.58% | ||
| S3 | 2.22 | -4.72% |
FAQ
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