Cartica Acquisition Corp Stock Forecast

Volatile ride for Cartica Acquisition Corp stock price on Monday moving between $0.0302 and $0.0341
(Updated on Jun 17, 2024)

CITEW Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, June 13, 2024, and so far it has risen 0.664%. Further rise is indicated until a new top pivot has been found. Cartica Acquisition Corp 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. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Cartica Acquisition 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 $0.0361 and $0.0604. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Cartica Acquisition Corp stock

Cartica Acquisition Corp finds support from accumulated volume at $0.0302 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 a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0039 between high and low, or 12.91%. For the last week, the stock has had daily average volatility of 10.46%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (CITEW) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect Cartica Acquisition Corp to open at $0.0315, and during the day (based on 14 day Average True Range), to move between $0.0162 and $0.0444, which gives a possible trading interval of +/-$0.0141 (+/-46.64%) up or down from last closing price. If Cartica Acquisition Corp takes out the full calculated possible swing range there will be an estimated 93.27% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0302 (0.33%) than the resistance at $0.0351 (15.84%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Cartica Acquisition Corp stock A Buy?

Cartica Acquisition 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.

Current score: -3.654 Sell Candidate Upgraded

Predicted Opening Price for Cartica Acquisition Corp of Tuesday, June 18, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.