Atari SA Stock Forecast
High volatility in Atari SA stock price on Thursday which ended trading at $0.140
(Updated on Apr 18, 2024)
The Atari SA stock price gained 16.67% on the last trading day (Thursday, 18th Apr 2024), rising from $0.120 to $0.140. During the last trading day the stock fluctuated 40.00% from a day low at $0.100 to a day high of $0.140. The price has risen in 5 of the last 10 days and is up by 21.74% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 8 thousand more shares were traded than the day before. In total, 8 thousand shares were bought and sold for approximately $1.07 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -14.97% during the next 3 months and, with a 90% probability hold a price between $0.0865 and $0.137 at the end of this 3-month period. 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.
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PONGF Signals & Forecast
The Atari SA 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 $0.120 and $0.133. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 09, 2024, and so far it has risen 33.33%. Further rise is indicated until a new top pivot has been found. Atari SA has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Atari SA stock
Atari SA finds support from accumulated volume at $0.135 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0400 between high and low, or 40.00%. For the last week, the stock has had daily average volatility of 25.26%.
Our recommended stop-loss: $0.134 (-4.00%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (PONGF) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Atari SA to open at $0.127, and during the day (based on 14 day Average True Range), to move between $0.107 and $0.173, which gives a possible trading interval of +/-$0.0329 (+/-23.51%) up or down from last closing price. If Atari SA takes out the full calculated possible swing range there will be an estimated 47.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.145 (3.57%) than the support at $0.135 (3.57%), 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 Atari SA stock A Buy?
Atari SA 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
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 Atari SA of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $0.127 ( 9.52%) | $0.140 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PONGF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.167 | 19.05 % | |
| R2 | 0.151 | 8.13 % | ||
| R1 | 0.142 | 1.39 % | ||
| Current price: | 0.140 | |||
| Support | S1 | 0.111 | -20.44 % | |
| S2 | 0.102 | -27.18 % | ||
| S3 | 0.0867 | -38.10 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.160 | 14.29 % | |
| R2 | 0.150 | 7.14 % | ||
| R1 | 0.145 | 3.57 % | ||
| Current price | 0.140 | |||
| Support | S1 | 0.135 | -3.57% | |
| S2 | 0.134 | -4.21% | ||
| S3 | 0.131 | -6.43% |
FAQ
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