Ayr Strategies Inc. Stock Forecast
Volatile ride for Ayr Strategies Inc. stock price on Friday moving between $2.44 and $2.78
(Updated on May 03, 2024)
The Ayr Strategies Inc. stock price gained 6.40% on the last trading day (Friday, 3rd May 2024), rising from $2.50 to $2.66. During the last trading day the stock fluctuated 13.93% from a day low at $2.44 to a day high of $2.78. The price has risen in 7 of the last 10 days and is up by 14.16% over the past 2 weeks. Volume fell on the last day by -29 thousand shares and in total, 263 thousand shares were bought and sold for approximately $698.78 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 very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 12.46% during the next 3 months and, with a 90% probability hold a price between $2.13 and $3.86 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 $2.63 and $2.52. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has risen 6.40%. Further rise is indicated until a new top pivot has been found. 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). 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.
Support, Risk & Stop-loss for Ayr Strategies Inc. stock
Ayr Strategies Inc. finds support from accumulated volume at $2.55 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.340 between high and low, or 13.93%. For the last week the stock has had daily average volatility of 27.47%.
Our recommended stop-loss: $2.57 (-3.42%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (AYRWF) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Ayr Strategies Inc. to open at $2.63, and during the day (based on 14 day Average True Range), to move between $2.26 and $3.06, which gives a possible trading interval of +/-$0.397 (+/-14.93%) up or down from last closing price. If Ayr Strategies Inc. takes out the full calculated possible swing range there will be an estimated 29.86% 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 (1.88%) than the support at $2.55 (4.14%), 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, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Ayr Strategies Inc. 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: 4.969 Buy Candidate Upgraded
Predicted Opening Price for Ayr Strategies Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $2.63 ( 1.25%) | $2.66 |
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 | 2.97 | 11.53 % | |
| R2 | 2.84 | 6.65 % | ||
| R1 | 2.76 | 3.63 % | ||
| Current price: | 2.66 | |||
| Support | S1 | 2.50 | -6.14 % | |
| S2 | 2.42 | -9.15 % | ||
| S3 | 2.29 | -14.04 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.91 | 9.40 % | |
| R2 | 2.82 | 6.02 % | ||
| R1 | 2.71 | 1.88 % | ||
| Current price | 2.66 | |||
| Support | S1 | 2.55 | -4.14% | |
| S2 | 2.15 | -19.17% | ||
| S3 | 2.02 | -24.06% |
FAQ
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