Ayr Strategies Inc. Stock Forecast
Ayr Strategies Inc. stock upgraded to Buy Candidate.
(Updated on Apr 24, 2024)
The Ayr Strategies Inc. stock price gained 0.81% on the last trading day (Wednesday, 24th Apr 2024), rising from $2.47 to $2.49. 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 9.35% from a day low at $2.37 to a day high of $2.59. The price has been going up and down for this period, and there has been a -6.04% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 24 thousand more shares were traded than the day before. In total, 106 thousand shares were bought and sold for approximately $262.81 thousand.
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 -12.51% during the next 3 months and, with a 90% probability hold a price between $1.27 and $2.69 at the end of this 3-month period.
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AYRWF Signals & Forecast
The Ayr Strategies Inc. 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 $2.49 and $2.35. A breakdown below any of these levels will issue sell signals. Ayr Strategies Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -21.70%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Ayr Strategies Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $2.02 and $1.98. 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, Ayr Strategies Inc. finds support just below today's level at $2.02. If this is broken, then the next support from accumulated volume will be at $1.98 and $1.90.
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 $0.222 between high and low, or 9.35%. For the last week, the stock has had daily average volatility of 10.22%.
Our recommended stop-loss: $2.34 (-6.14%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (AYRWF) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Ayr Strategies Inc. to open at $2.48, and during the day (based on 14 day Average True Range), to move between $2.18 and $2.80, which gives a possible trading interval of +/-$0.306 (+/-12.29%) up or down from last closing price. If Ayr Strategies Inc. takes out the full calculated possible swing range there will be an estimated 24.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.71 (8.84%) than the support at $2.02 (18.88%), 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 Ayr Strategies Inc. 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.050 Buy Candidate Upgraded
Predicted Opening Price for Ayr Strategies Inc. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $2.48 ( 0.248%) | $2.49 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AYRWF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.71 | 8.65 % | |
| R2 | 2.62 | 5.25 % | ||
| R1 | 2.57 | 3.15 % | ||
| Current price: | 2.49 | |||
| Support | S1 | 2.40 | -3.65 % | |
| S2 | 2.35 | -5.75 % | ||
| S3 | 2.26 | -9.14 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.11 | 24.90 % | |
| R2 | 2.91 | 16.87 % | ||
| R1 | 2.71 | 8.84 % | ||
| Current price | 2.49 | |||
| Support | S1 | 2.02 | -18.88% | |
| S2 | 1.98 | -20.48% | ||
| S3 | 1.90 | -23.69% |
FAQ
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