Polar Power Inc Stock Forecast
Big movements in Polar Power Inc stock price on Tuesday moving 13.28% between high and low
(Updated on Jul 02, 2024)
The Polar Power Inc stock price gained 3.42% on the last trading day (Tuesday, 2nd Jul 2024), rising from $0.450 to $0.465. During the last trading day the stock fluctuated 13.28% from a day low at $0.441 to a day high of $0.500. The price has risen in 6 of the last 10 days and is up by 22% over the past 2 weeks. Volume fell on the last day by -25 thousand shares and in total, 128 thousand shares were bought and sold for approximately $59.62 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 is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Polar Power Inc stock with a 90% probability to be traded between $0.326 and $0.522 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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POLA Signals & Forecast
The Polar Power Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.416 and $0.434. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 20, 2024, and so far it has risen 23.95%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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.
Support, Risk & Stop-loss for Polar Power Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.414 and $0.399. 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, Polar Power Inc finds support just below today's level at $0.414. If this is broken, then the next support from accumulated volume will be at $0.399 and $0.357.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0586 between high and low, or 13.28%. For the last week the stock has had daily average volatility of 10.08%.
Our recommended stop-loss: $0.450 (-3.20%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 32 days ago.)
Trading Expectations (POLA) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Polar Power Inc to open at $0.469, and during the day (based on 14 day Average True Range), to move between $0.424 and $0.506, which gives a possible trading interval of +/-$0.0409 (+/-8.79%) up or down from last closing price. If Polar Power Inc takes out the full calculated possible swing range there will be an estimated 17.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.470 (1.01%) than the support at $0.414 (11.00%), 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 Polar Power Inc stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Polar Power Inc stock to perform well in the short-term period.
Current score: 3.168 Buy Candidate Unchanged
Predicted Opening Price for Polar Power Inc of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $0.469 ( 0.774%) | $0.465 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for POLA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.528 | 13.37% |
| R2 | 0.505 | 8.56% |
| R1 | 0.491 | 5.58% |
| Price | 0.465 | |
| S1 | 0.447 | -4.04% |
| S2 | 0.433 | -7.01% |
| S3 | 0.410 | -11.82% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.537 | 15.39% |
| R2 | 0.497 | 6.90% |
| R1 | 0.470 | 1.01% |
| Price | 0.465 | |
| S1 | 0.414 | -11.00% |
| S2 | 0.399 | -14.25% |
| S3 | 0.357 | -23.28% |
FAQ
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