Finnovate Acquisition Corp. Stock Forecast

Finnovate Acquisition Corp. stock price ended at $0.0260 on Monday, after losing 0%.
(Updated on Jun 17, 2024)

FNVTW Signals & Forecast

The Finnovate Acquisition Corp. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.0215 and $0.0180. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, June 14, 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 Monday, April 22, 2024 and based on theory for this formation the price should go up by 15.38% to $0.0300 within 2 trading days since signal was issued (Tuesday, June 18, 2024).

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

Finnovate Acquisition Corp. finds support from accumulated volume at $0.0250 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 12.77%

Our recommended stop-loss: $0.0249 (-4.08%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)

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

For the upcoming trading day on Tuesday, 18th we expect Finnovate Acquisition Corp. to open at $0.0260, and during the day (based on 14 day Average True Range), to move between $0.0172 and $0.0348, which gives a possible trading interval of +/-$0.0088 (+/-33.77%) up or down from last closing price. If Finnovate Acquisition Corp. takes out the full calculated possible swing range there will be an estimated 67.53% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0250 (3.85%) than the resistance at $0.0300 (15.38%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Finnovate Acquisition Corp. stock A Buy?

Finnovate 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 Finnovate Acquisition Corp. of Tuesday, June 18, 2024

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