Cartica Acquisition Corp Stock Forecast

Big movements in Cartica Acquisition Corp stock price on Tuesday moving 111.24% between high and low
(Updated on Jun 25, 2024)

CITEW Signals & Forecast

The Cartica Acquisition Corp 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 $0.0590 and $0.0627. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 13, 2024, and so far it has risen 605.32%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. Higher liquidity also reduces the general risk.

Support, Risk & Stop-loss for Cartica Acquisition 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 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 $0.112 between high and low, or 111.24%. For the last week, the stock has had daily average volatility of 31.43%.

The Cartica Acquisition Corp stock is extremely overbought on RSI14 (86). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: $0.205 (-3.28%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 86 and this increases the risk substantially. There is a buy signal from a pivot bottom found 19 days ago.)

Trading Expectations (CITEW) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Cartica Acquisition Corp to open at $0.175, and during the day (based on 14 day Average True Range), to move between $0.189 and $0.235, which gives a possible trading interval of +/-$0.0231 (+/-10.86%) up or down from last closing price. If Cartica Acquisition Corp takes out the full calculated possible swing range there will be an estimated 21.73% move between the lowest and the highest trading price during the day.

Is Cartica Acquisition Corp stock A Buy?

Cartica Acquisition Corp 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: 0.000 Hold/Accumulate Upgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Cartica Acquisition Corp of Wednesday, June 26, 2024

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