A2Z Smart Technologies Corp. Stock Forecast
Volatile ride for A2Z Smart Technologies Corp. stock price on Friday moving between $0.362 and $0.400
(Updated on May 10, 2024)
The A2Z Smart Technologies Corp. stock price fell by -6.95% on the last day (Friday, 10th May 2024) from $0.390 to $0.363. During the last trading day the stock fluctuated 10.47% from a day low at $0.362 to a day high of $0.400. The price has been going up and down for this period, and there has been a -7.4% loss for the last 2 weeks. Volume has increased on the last day by 13 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 32 thousand shares were bought and sold for approximately $11.56 thousand.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.305, a level that may pose a second chance to hit a runner. According to fan-theory $0.708 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. 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.
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AZ Signals & Forecast
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 A2Z Smart Technologies Corp. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.392 and $0.451. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -22.77%. Further fall is indicated until a new bottom pivot has been found. A2Z Smart Technologies Corp. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for A2Z Smart Technologies Corp. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.0379 between high and low, or 10.47%. For the last week, the stock has had daily average volatility of 10.09%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AZ) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect A2Z Smart Technologies Corp. to open at $0.375, and during the day (based on 14 day Average True Range), to move between $0.300 and $0.426, which gives a possible trading interval of +/-$0.0632 (+/-17.41%) up or down from last closing price. If A2Z Smart Technologies Corp. takes out the full calculated possible swing range there will be an estimated 34.82% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.385, some $0.0216 (5.95%) from the current price of $0.363, our system finds the risk reward not very attractive.
Earnings coming up
A2Z Smart Technologies Corp. will release earnings BMO on Monday, May 20, 2024. We will update the financials statements for A2Z Smart Technologies Corp., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 13.29% in the first trading day after earnings release.
Is A2Z Smart Technologies Corp. stock A Buy?
A2Z Smart Technologies Corp. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.502 Sell Candidate Unchanged
Predicted Opening Price for A2Z Smart Technologies Corp. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $0.375 ( 3.31%) | $0.363 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.413 | 13.76 % | |
| R2 | 0.398 | 9.77 % | ||
| R1 | 0.390 | 7.30 % | ||
| Current price: | 0.363 | |||
| Support | S1 | 0.361 | -0.673 % | |
| S2 | 0.352 | -3.14 % | ||
| S3 | 0.337 | -7.13 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.451 | 24.35 % | |
| R2 | 0.421 | 15.98 % | ||
| R1 | 0.385 | 5.95 % | ||
| Current price | 0.363 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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