Ftac Emerald Acquisition Corp. Stock Forecast
High volatility in Ftac Emerald Acquisition Corp. stock price on Monday which ended trading at $0.0370
(Updated on Jun 24, 2024)
The Ftac Emerald Acquisition Corp. stock price fell by -17.59% on the last day (Monday, 24th Jun 2024) from $0.0449 to $0.0370. During the last trading day the stock fluctuated 79.64% from a day low at $0.0334 to a day high of $0.0600. The price has fallen in 5 of the last 10 days and is down by -53.69% for this period. Volume has increased on the last day by 19 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 35 thousand shares were bought and sold for approximately $1.28 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -62.61% during the next 3 months and, with a 90% probability hold a price between $0.0082 and $0.0284 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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EMLDW Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has risen 5.41%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Ftac Emerald 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 $0.0437 and $0.0935. A break-up above any of these levels will issue buy signals. Ftac Emerald Acquisition Corp. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Ftac Emerald Acquisition Corp. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0351. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.
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 $0.0266 between high and low, or 79.64%. For the last week, the stock has had daily average volatility of 27.37%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EMLDW) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect Ftac Emerald Acquisition Corp. to open at $0.0435, and during the day (based on 14 day Average True Range), to move between $0.0198 and $0.0542, which gives a possible trading interval of +/-$0.0172 (+/-46.62%) up or down from last closing price. If Ftac Emerald Acquisition Corp. takes out the full calculated possible swing range there will be an estimated 93.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0351 (5.14%) than the resistance at $0.0400 (8.11%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ftac Emerald Acquisition Corp. stock A Buy?
Ftac Emerald 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.
Current score: -4.493 Sell Candidate Unchanged
Predicted Opening Price for Ftac Emerald Acquisition Corp. of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| $0.0435 ( 17.48%) | $0.0370 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EMLDW
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0701 | 89.37% |
| R2 | 0.0599 | 61.91% |
| R1 | 0.0536 | 44.94% |
| Price | 0.0370 | |
| S1 | 0.0333 | -9.99% |
| S2 | 0.0270 | -26.95% |
| S3 | 0.0169 | -54.41% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0.0449 | 21.35% |
| R1 | 0.0400 | 8.11% |
| Price | 0.0370 | |
| S1 | 0.0351 | -5.14% |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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