Canoo Holdings Ltd. Stock Forecast
Canoo Holdings Ltd. stock price up more than 5.34% on Thursday
(Updated on Apr 25, 2024)
The Canoo Holdings Ltd. stock price gained 5.34% on the last trading day (Thursday, 25th Apr 2024), rising from $0.0712 to $0.0750. During the last trading day the stock fluctuated 8.38% from a day low at $0.0692 to a day high of $0.0750. The price has been going up and down for this period, and there has been a 7.14% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 72 thousand more shares were traded than the day before. In total, 93 thousand shares were bought and sold for approximately $6.96 thousand.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 7.18% during the next 3 months and, with a 90% probability hold a price between $0.0493 and $0.134 at the end of this 3-month period.
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GOEVW Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 05, 2024, and so far it has risen 19.24%. 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). Canoo Holdings Ltd. 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. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Canoo Holdings Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.0778 and $0.0760. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for Canoo Holdings Ltd. stock
Canoo Holdings Ltd. finds support from accumulated volume at $0.0749 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.0058 between high and low, or 8.38%. For the last week, the stock has had daily average volatility of 18.46%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GOEVW) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Canoo Holdings Ltd. to open at $0.0731, and during the day (based on 14 day Average True Range), to move between $0.0579 and $0.0921, which gives a possible trading interval of +/-$0.0171 (+/-22.80%) up or down from last closing price. If Canoo Holdings Ltd. takes out the full calculated possible swing range there will be an estimated 45.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0749 (0.13%) than the resistance at $0.0791 (5.47%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Canoo Holdings Ltd. stock A Buy?
Canoo Holdings Ltd. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.495 Sell Candidate Unchanged
Predicted Opening Price for Canoo Holdings Ltd. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $0.0731 ( 2.58%) | $0.0750 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GOEVW
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0789 | 5.16 % | |
| R2 | 0.0767 | 2.20 % | ||
| R1 | 0.0753 | 0.376 % | ||
| Current price: | 0.0750 | |||
| Support | S1 | 0.0709 | -5.53 % | |
| S2 | 0.0695 | -7.36 % | ||
| S3 | 0.0673 | -10.31 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0805 | 7.33 % | |
| R2 | 0.0800 | 6.67 % | ||
| R1 | 0.0791 | 5.47 % | ||
| Current price | 0.0750 | |||
| Support | S1 | 0.0749 | -0.133% | |
| S2 | 0.0600 | -20.00% | ||
| S3 | 0.0580 | -22.67% |
FAQ
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