99 Acquisition Group Inc. Warrant Stock Forecast
High volatility in 99 Acquisition Group Inc. Warrant stock price on Thursday which ended trading at $0.0600
(Updated on Jun 27, 2024)
The 99 Acquisition Group Inc. Warrant stock price gained 8.50% on the last trading day (Thursday, 27th Jun 2024), rising from $0.0553 to $0.0600. During the last trading day the stock fluctuated 135.29% from a day low at $0.0255 to a day high of $0.0600. The price has fallen in 5 of the last 10 days but is still up by 20% over the past 2 weeks. Volume fell on the last day by -12 thousand shares and in total, 18 thousand shares were bought and sold for approximately $1.07 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 2.54% during the next 3 months and, with a 90% probability hold a price between $0.0371 and $0.0779 at the end of this 3-month period.
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NNAGW Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -19.14%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. The 99 Acquisition Group Inc. Warrant 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 $0.0508 and $0.0491. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for 99 Acquisition Group Inc. Warrant stock
99 Acquisition Group Inc. Warrant finds support from accumulated volume at $0.0589 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 periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0345 between high and low, or 135.29%. For the last week the stock has had daily average volatility of 103.04%.
Our recommended stop-loss: $0.0568 (-5.38%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 43 days ago.)
Trading Expectations (NNAGW) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect 99 Acquisition Group Inc. Warrant to open at $0.0485, and during the day (based on 14 day Average True Range), to move between $0.0386 and $0.0814, which gives a possible trading interval of +/-$0.0214 (+/-35.74%) up or down from last closing price. If 99 Acquisition Group Inc. Warrant takes out the full calculated possible swing range there will be an estimated 71.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0609 (1.50%) than the support at $0.0589 (1.83%), 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 99 Acquisition Group Inc. Warrant 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 99 Acquisition Group Inc. Warrant 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: 3.924 Buy Candidate Upgraded
Predicted Opening Price for 99 Acquisition Group Inc. Warrant of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| $0.0485 ( 19.17%) | $0.0600 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NNAGW
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0830 | 38.33% |
| R2 | 0.0698 | 16.37% |
| R1 | 0.0617 | 2.80% |
| Price | 0.0600 | |
| S1 | 0.0353 | -41.13% |
| S2 | 0.0272 | -54.70% |
| S3 | 0.0140 | -76.67% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0742 | 23.67% |
| R2 | 0.0641 | 6.83% |
| R1 | 0.0609 | 1.50% |
| Price | 0.0600 | |
| S1 | 0.0589 | -1.83% |
| S2 | 0.0552 | -8.00% |
| S3 | 0.0500 | -16.67% |
FAQ
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