Digital Health Acquisition Corp. Stock Forecast
Digital Health Acquisition Corp. stock price ended at $12.11 on Friday, after losing 0%.
(Updated on Jun 28, 2024)
No changes to the price of Digital Health Acquisition Corp. stock on the last trading day (Friday, 28th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $12.11 to a day high of $12.11. The price has fallen in 5 of the last 10 days and is down by -16.66% for this period.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $10.40 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 13.66% during the next 3 months and, with a 90% probability hold a price between $11.82 and $24.77 at the end of this 3-month period.
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DHAC Signals & Forecast
Some negative signals were issued as well, and these may have some influence on the near short-term development. The Digital Health Acquisition Corp. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $13.99. On a fall, the stock will find some support from the short-term average at $12.00. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Thursday, June 27, 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.
A sell signal from a double top formation was found on Thursday, April 11, 2024 with a target of $12.36. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
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 7.24%
Digital Health Acquisition Corp. is oversold on RSI14 (11). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: $11.53 (-4.78%) (This stock has low daily movements and this gives low risk. Low RSI14 is 11 which reduces the risk some. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (DHAC) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st 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 $9.93 and $14.29, which gives a possible trading interval of +/-$2.18 (+/-17.99%) 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 35.98% 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?
Digital Health 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.
Current score: 0.000 Hold/Accumulate Unchanged
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 Digital Health Acquisition Corp. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $12.11 ( 0.00000000%) | $12.11 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DHAC
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.11 | 0.00000000% |
| R2 | 12.11 | 0.00000000% |
| R1 | 12.11 | 0.00000000% |
| Price | 12.11 | |
| S1 | 12.11 | 0.00000000% |
| S2 | 12.11 | 0.00000000% |
| S3 | 12.11 | 0.00000000% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 14.30 | 18.09% |
| R2 | 12.79 | 5.62% |
| R1 | 12.37 | 2.15% |
| Price | 12.11 | |
| S1 | 12.00 | -0.91% |
| S2 | 11.70 | -3.38% |
| S3 | 11.57 | -4.48% |
FAQ
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