Aviat Networks stock downgraded from Buy Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Dec 08, 2021)
Buy or Hold candidate since 2021-12-07 Gain 1.23% PDF
The Aviat Networks stock price gained 1.23% on the last trading day (Wednesday, 8th Dec 2021), rising from $30.93 to $31.31. , and 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 day the stock fluctuated 3.98% from a day low at $30.94 to a day high of $32.17. The price has been going up and down for this period, and there has been a -0.22% loss for the last 2 weeks. Volume fell on the last day by -174 thousand shares and in total, 76 thousand shares were bought and sold for approximately $2.39 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 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 -11.74% during the next 3 months and, with a 90% probability hold a price between $23.58 and $29.15 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.
Signals & Forecast
The Aviat Networks 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 $30.50 and $30.73. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, October 29, 2021, and so far it has risen 9.48%. Further rise is indicated until a new top pivot has been found. 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. 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
Aviat Networks finds support from accumulated volume at $30.67 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.23 between high and low, or 3.98%. For the last week, the stock has had a daily average volatility of 4.19%.
Our recommended stop-loss: $30.02 (-4.13%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 27 days ago.)
Is Aviat Networks stock A Buy?
Aviat Networks 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.946
Predicted Opening Price for Aviat Networks of Thursday, December 9, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price December 9, 2021||Current price|
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On Oct 04, 2021 "Northland Securities" gave "$45.00 - $50.00" rating for AVNW. The price target was set to $33.60+2.3%.
AVNW Insider Trading
|Dec 03, 2021||Buy||1 000||Gray David M||Common Stock|
|Nov 29, 2021||Buy||2 000||Singh Somesh||Common Stock|
|Nov 15, 2021||Sell||5 755||Tucker Bryan||Non-Qualified Stock Option (right to buy)|
|Nov 15, 2021||Sell||5 755||Tucker Bryan||Common Stock|
|Nov 15, 2021||Buy||5 755||Tucker Bryan||Common Stock|
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