Maquia Capital Acquisition Corporation Stock Forecast

Maquia Capital Acquisition Corporation stock upgraded from Hold/Accumulate to Buy Candidate after Tuesday trading session.
(Updated on Jun 25, 2024)

MAQC Signals & Forecast

The Maquia Capital Acquisition Corporation 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 $11.20 and $11.09. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Maquia Capital Acquisition Corporation 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. A sell signal was issued from a pivot top point on Friday, June 21, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Tuesday, April 02, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Maquia Capital Acquisition Corporation stock

Maquia Capital Acquisition Corporation finds support from accumulated volume at $11.03 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0700 between high and low, or 0.629%. For the last week the stock has had daily average volatility of 0.434%.

Our recommended stop-loss: $10.81 (-3.52%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 3 days ago.)

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

For the upcoming trading day on Wednesday, 26th we expect Maquia Capital Acquisition Corporation to open at $11.18, and during the day (based on 14 day Average True Range), to move between $11.17 and $11.23, which gives a possible trading interval of +/-$0.0344 (+/-0.31%) up or down from last closing price. If Maquia Capital Acquisition Corporation takes out the full calculated possible swing range there will be an estimated 0.61% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $11.03, some $0.170 (1.52%) from the current price of $11.20, our system finds the risk reward attractive.

Is Maquia Capital Acquisition Corporation stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Maquia Capital Acquisition Corporation stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.588 Buy Candidate Upgraded

Predicted Opening Price for Maquia Capital Acquisition Corporation of Wednesday, June 26, 2024

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