Avepoint Inc - Class A Stock Forecast
Stronger technical forecast for Avepoint Inc - Class A stock price after Friday trading.
(Updated on Apr 26, 2024)
The Avepoint Inc - Class A stock price gained 2.65% on the last trading day (Friday, 26th Apr 2024), rising from $7.92 to $8.13. During the last trading day the stock fluctuated 4.70% from a day low at $7.93 to a day high of $8.30. The price has risen in 6 of the last 10 days and is up by 3.04% 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, 349 thousand more shares were traded than the day before. In total, 857 thousand shares were bought and sold for approximately $6.96 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Avepoint Inc - Class A stock with a 90% probability to be traded between $7.38 and $8.40 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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AVPT Signals & Forecast
The Avepoint Inc - Class A 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 $7.86 and $7.86. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 5.86%. 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 Avepoint Inc - Class A stock
Avepoint Inc - Class A finds support from accumulated volume at $8.03 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.373 (4.70%) between high and low. For the last week, the stock has had daily average volatility of 2.48%.
Our recommended stop-loss: $7.77 (-4.40%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (AVPT) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Avepoint Inc - Class A to open at $8.12, and during the day (based on 14 day Average True Range), to move between $7.91 and $8.35, which gives a possible trading interval of +/-$0.220 (+/-2.70%) up or down from last closing price. If Avepoint Inc - Class A takes out the full calculated possible swing range there will be an estimated 5.40% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $8.15 (0.25%) than the support at $8.03 (1.23%), 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 Avepoint Inc - Class A stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Avepoint Inc - Class A stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.409 Buy Candidate Upgraded
Predicted Opening Price for Avepoint Inc - Class A of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
$8.12 ( 0.133%) | $8.13 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AVPT
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 8.49 | 4.45 % | |
R2 | 8.35 | 2.70 % | ||
R1 | 8.26 | 1.62 % | ||
Current price: | 8.13 | |||
Support | S1 | 7.98 | -1.88 % | |
S2 | 7.89 | -2.96 % | ||
S3 | 7.75 | -4.72 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 8.40 | 3.32 % | |
R2 | 8.17 | 0.492 % | ||
R1 | 8.15 | 0.246 % | ||
Current price | 8.13 | |||
Support | S1 | 8.03 | -1.23% | |
S2 | 8.00 | -1.60% | ||
S3 | 7.91 | -2.71% |
FAQ
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