Azit USD Stock Forecast
Green day on Tuesday for Azit USD
(Updated on Jun 25, 2024)
The Azit USD stock price gained 1.53% on the last trading day (Tuesday, 25th Jun 2024), rising from $0.0438 to $0.0445. During the last trading day the stock fluctuated 6.13% from a day low at $0.0419 to a day high of $0.0445. The price has risen in 7 of the last 10 days and is up by 20.58% over the past 2 weeks. Volume fell on the last day by -287 thousand shares and in total, 119 thousand shares were bought and sold for approximately $5.28 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 the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.0452 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -49.79% during the next 3 months and, with a 90% probability hold a price between $0.0042 and $0.0227 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.
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AZITUSD Signals & Forecast
The Azit USD 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 $0.0428 and $0.0419. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Sunday, June 23, 2024, and so far it has fallen -3.76%. Further fall is indicated until a new bottom pivot has been found. 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Azit USD stock
Azit USD finds support from accumulated volume at $0.0426 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 very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0026 between high and low, or 6.13%. For the last week the stock has had daily average volatility of 9.17%.
Our recommended stop-loss: $0.0426 (-4.18%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (AZITUSD) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Azit USD to open at $0.0436, and during the day (based on 14 day Average True Range), to move between $0.0403 and $0.0486, which gives a possible trading interval of +/-$0.0041 (+/-9.33%) up or down from last closing price. If Azit USD takes out the full calculated possible swing range there will be an estimated 18.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0463 (4.10%) than the support at $0.0426 (4.18%), 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 Azit USD 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.
Current score: 1.505 Buy Candidate Unchanged
Predicted Opening Price for Azit USD of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $0.0436 ( 1.92%) | $0.0445 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AZITUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0462 | 3.86% |
| R2 | 0.0452 | 1.65% |
| R1 | 0.0446 | 0.287% |
| Price | 0.0445 | |
| S1 | 0.0426 | -4.13% |
| S2 | 0.0420 | -5.49% |
| S3 | 0.0410 | -7.70% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0546 | 22.70% |
| R2 | 0.0510 | 14.65% |
| R1 | 0.0463 | 4.10% |
| Price | 0.0445 | |
| S1 | 0.0426 | -4.18% |
| S2 | 0.0425 | -4.43% |
| S3 | 0.0396 | -10.99% |
FAQ
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