Armlogi Holding Corp. Common Stock Stock Forecast
On Wednesday, Armlogi Holding Corp. Common Stock stock price gained an impressive 5.16%
(Updated on Jun 26, 2024)
The Armlogi Holding Corp. Common Stock stock price gained 5.16% on the last trading day (Wednesday, 26th Jun 2024), rising from $4.65 to $4.89. During the last trading day the stock fluctuated 6.26% from a day low at $4.63 to a day high of $4.92. The price has been going up and down for this period, and there has been a 0.2% gain for the last 2 weeks. Volume fell on the last day by -7 thousand shares and in total, 5 thousand shares were bought and sold for approximately $25.17 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 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 Armlogi Holding Corp. Common Stock stock with a 90% probability to be traded between $4.49 and $5.08 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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BTOC Signals & Forecast
The Armlogi Holding Corp. Common Stock 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 $4.84 and $4.85. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 7.71%. 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Armlogi Holding Corp. Common Stock stock
Armlogi Holding Corp. Common Stock finds support from accumulated volume at $4.80 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.290 between high and low, or 6.26%. For the last week the stock has had daily average volatility of 9.66%.
Our recommended stop-loss: $4.72 (-3.56%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (BTOC) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Armlogi Holding Corp. Common Stock to open at $4.81, and during the day (based on 14 day Average True Range), to move between $4.53 and $5.25, which gives a possible trading interval of +/-$0.361 (+/-7.38%) up or down from last closing price. If Armlogi Holding Corp. Common Stock takes out the full calculated possible swing range there will be an estimated 14.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $4.80 (1.84%) than the resistance at $5.00 (2.25%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Armlogi Holding Corp. Common Stock stock A Buy?
Armlogi Holding Corp. Common Stock holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.954 Hold/Accumulate Upgraded
Predicted Opening Price for Armlogi Holding Corp. Common Stock of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $4.81 ( 1.57%) | $4.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BTOC
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.10 | 4.36% |
| R2 | 4.99 | 2.10% |
| R1 | 4.92 | 0.698% |
| Price | 4.89 | |
| S1 | 4.70 | -3.83% |
| S2 | 4.63 | -5.23% |
| S3 | 4.52 | -7.50% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.14 | 5.11% |
| R2 | 5.03 | 2.86% |
| R1 | 5.00 | 2.25% |
| Price | 4.89 | |
| S1 | 4.80 | -1.84% |
| S2 | 4.62 | -5.47% |
| S3 | 4.62 | -5.52% |
FAQ
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