POET Technologies Inc. Stock Forecast

Big movements in POET Technologies Inc. stock price on Friday moving 24.40% between high and low
(Updated on Apr 26, 2024)

POET Signals & Forecast

The POET Technologies 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 $1.66 and $1.33. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 149.35%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Support, Risk & Stop-loss for POET Technologies Inc. stock

On the downside, the stock finds support just below today's level from accumulated volume at $2.28 and $1.98. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $1.98 may give a huge drop in the stock price.

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 $0.510 between high and low, or 24.40%. For the last week, the stock has had daily average volatility of 30.18%.

Our recommended stop-loss: $2.43 (-2.98%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 6 days ago.)

Trading Expectations (POET) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect POET Technologies Inc. to open at $2.40, and during the day (based on 14 day Average True Range), to move between $2.26 and $2.74, which gives a possible trading interval of +/-$0.243 (+/-9.72%) up or down from last closing price. If POET Technologies Inc. takes out the full calculated possible swing range there will be an estimated 19.43% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $2.28, some $0.220 (8.80%) from the current price of $2.50, our system finds the risk reward attractive.

Is POET Technologies Inc. stock A Buy?

POET Technologies Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for POET Technologies Inc. of Monday, April 29, 2024

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