Digital Health Acquisition Corp. Stock Forecast

Red day on Tuesday for Digital Health Acquisition Corp.
(Updated on Jun 25, 2024)

DHAC Signals & Forecast

There are few to no technical positive signals at the moment. The Digital Health 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 $12.74 and $13.96. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Friday, June 21, 2024 and based on theory for this formation the price should go up by 129.46% to $27.79 within 28 trading days since signal was issued (Thursday, August 01, 2024).

Support, Risk & Stop-loss for Digital Health Acquisition Corp. stock

Digital Health Acquisition Corp. finds support from accumulated volume at $12.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 14.65%

Digital Health Acquisition Corp. is oversold on RSI14 (16). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

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

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

For the upcoming trading day on Wednesday, 26th we expect Digital Health Acquisition Corp. to open at $12.11, and during the day (based on 14 day Average True Range), to move between $9.39 and $14.83, which gives a possible trading interval of +/-$2.72 (+/-22.45%) up or down from last closing price. If Digital Health Acquisition Corp. takes out the full calculated possible swing range there will be an estimated 44.90% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $12.00 (0.91%) than the resistance at $12.37 (2.15%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Digital Health Acquisition Corp. stock A Buy?

The Digital Health Acquisition Corp. stock holds several negative signals and despite the positive trend, we believe Digital Health Acquisition Corp. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -3.134 Sell Candidate Unchanged

Predicted Opening Price for Digital Health Acquisition Corp. of Wednesday, June 26, 2024

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