Maxeon Solar Technologies, Ltd. Stock Forecast
Big movements in Maxeon Solar Technologies, Ltd. stock price on Tuesday moving 93.29% between high and low
(Updated on Jul 02, 2024)
The Maxeon Solar Technologies, Ltd. stock price fell by -67.22% on the last day (Tuesday, 2nd Jul 2024) from $0.549 to $0.180. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 93.29% from a day low at $0.170 to a day high of $0.329. The price has fallen in 6 of the last 10 days and is down by -84.36% for this period. Volume has increased on the last day by 135 million 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, 149 million shares were bought and sold for approximately $26.78 million.
The stock has broken the very wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($0.702) are considered to be a "second chance" to get out. According to the fan-theory -$1.50 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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MAXN Signals & Forecast
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 Maxeon Solar Technologies, Ltd. 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 $0.84 and $1.89. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 14, 2024, and so far it has fallen -95.11%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Maxeon Solar Technologies, Ltd. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.159 between high and low, or 93.29%. For the last week, the stock has had daily average volatility of 41.93%.
Maxeon Solar Technologies, Ltd. is oversold on RSI14 (9). 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: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MAXN) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Maxeon Solar Technologies, Ltd. to open at $0.226, and during the day (based on 14 day Average True Range), to move between -$0.0928 and $0.453, which gives a possible trading interval of +/-$0.273 (+/-151.59%) up or down from last closing price. If Maxeon Solar Technologies, Ltd. takes out the full calculated possible swing range there will be an estimated 303.18% move between the lowest and the highest trading price during the day.
Is Maxeon Solar Technologies, Ltd. stock A Buy?
Maxeon Solar Technologies, Ltd. 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: -8.250 Strong Sell Candidate Unchanged
Predicted Opening Price for Maxeon Solar Technologies, Ltd. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $0.226 ( 25.72%) | $0.180 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MAXN
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.385 | 113.88% |
| R2 | 0.324 | 80.20% |
| R1 | 0.287 | 59.40% |
| Price | 0.180 | |
| S1 | 0.166 | -7.96% |
| S2 | 0.128 | -28.76% |
| S3 | 0.0676 | -62.44% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 0.180 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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