MicroAlgo Inc. Stock Forecast
About Chart
Golden Star
The Golden Star is a refined bullish signal based on the Golden Cross, developed by Jim Stromberg, incorporating additional time frame-specific moving averages and precise price line crossings. This signal is effective for liquid stocks, highlighting short-term upward momentum.
Death Star
The Death Star, developed by Jim Stromberg, is the bearish counterpart to the Golden Star, serving as a sell signal. It is triggered by specific moving average crossings on the price line, indicating a likely prolonged decline in the stock.
Golden Cross
The Golden Cross is a bullish signal where the short-term moving average crosses above the long-term moving average, indicating potential upward momentum.
Death Cross
The Death Cross is a bearish signal where the short-term moving average crosses below the long-term moving average, indicating potential downward momentum.
Pivot Bottom
A Pivot Bottom is a significant low point identified by algorithms developed by StockInvest.us. While it may indicate a short-term directional change, it does not necessarily imply a complete trend reversal. Pivot Bottoms are marked as green circles on the price line.
Pivot Top
A Pivot Top represents a significant high point identified by algorithms developed by StockInvest.us. Similar to Pivot Bottoms, it may suggest a short-term directional change within the main trend, rather than a full trend reversal. Pivot Tops are marked as red circles on the price line.
RSI Oversold
RSI oversold indicates that a stock has declined significantly and may be undervalued, potentially presenting a buying opportunity. This condition is marked by a green line on the chart but should be confirmed with other indicators before taking action.
RSI Overbought
RSI overbought suggests that a stock has risen rapidly and may be due for a pullback. It is marked by a red line on the chart, signaling increased risk. This doesn’t necessarily mean it’s time to sell, but it’s important to monitor closely.
Accumulated Volume
The bars indicate how much stock has been traded on each price during the chart period.
Buy Signal (MA)
Buy signal from moving average indicating potential upward movement.
Sell Signal (MA)
Sell signal from moving average indicating potential downward movement.
AI Analysis of MLGO
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Volatile ride for MicroAlgo Inc. stock price on Friday moving between $0.300 and $0.411
(Updated on Oct 11, 2024)
Sell candidate since Oct 11, 2024
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.337, a level that may pose a second chance to hit a runner. According to fan-theory $1.03 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. 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.
MLGO Signals & Forecast
The MicroAlgo Inc. 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 $0.310 and $0.309. 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). 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 Thursday, October 10, 2024, and so far it has fallen -9.37%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for MicroAlgo Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.310 and $0.279. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, MicroAlgo Inc. finds support just below today's level at $0.310. If this is broken, then the next support from accumulated volume will be at $0.279 and $0.270.
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 $0.111 between high and low, or 36.91%. For the last week, the stock has had daily average volatility of 32.47%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MLGO) For The Upcoming Trading Day Of Monday 14th
For the upcoming trading day on Monday, 14th we expect MicroAlgo Inc. to open at $0.350, and during the day (based on 14 day Average True Range), to move between $0.258 and $0.421, which gives a possible trading interval of +/-$0.0814 (+/-23.99%) up or down from last closing price. If MicroAlgo Inc. takes out the full calculated possible swing range there will be an estimated 47.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.351 (3.39%) than the support at $0.310 (8.69%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is MicroAlgo Inc. stock A Buy?
MicroAlgo Inc. 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score:
-1.403
Sell Candidate
Downgraded
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Predicted Fair Opening Price
Predicted fair opening price on October 14, 2024 - $0.350 ( 3.16%). The predicted opening price is based on yesterday's movements between high, low, and closing price.Trading levels for MLGO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.461 | 35.80% |
| R2 | 0.419 | 23.33% |
| R1 | 0.393 | 15.63% |
| Price | 0.340 | |
| S1 | 0.308 | -9.31% |
| S2 | 0.282 | -17.01% |
| S3 | 0.239 | -29.47% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.375 | 10.34% |
| R2 | 0.373 | 9.90% |
| R1 | 0.351 | 3.39% |
| Price | 0.340 | |
| S1 | 0.310 | -8.69% |
| S2 | 0.279 | -17.82% |
| S3 | 0.270 | -20.47% |
FAQ
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