Pono Capital Two, Inc. Stock Forecast

Pono Capital Two, Inc. stock downgraded to Sell Candidate
(Updated on Jun 18, 2024)

PTWO Signals & Forecast

There are mixed signals in the stock today. The Pono Capital Two, Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $13.70. On a fall, the stock will find some support from the short-term average at $13.54. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Friday, May 31, 2024, and so far it has fallen -9.85%. 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). Pono Capital Two, Inc. 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. The stock had a Golden Star Signal on Monday, July 31, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Pono Capital Two, Inc. stock

Pono Capital Two, Inc. finds support from accumulated volume at $13.35 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.310 between high and low, or 2.33%. For the last week, the stock has had daily average volatility of 2.70%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (PTWO) For The Upcoming Trading Day Of Thursday 20th

For the upcoming trading day on Thursday, 20th we expect Pono Capital Two, Inc. to open at $13.53, and during the day (based on 14 day Average True Range), to move between $12.14 and $15.12, which gives a possible trading interval of +/-$1.49 (+/-10.95%) up or down from last closing price. If Pono Capital Two, Inc. takes out the full calculated possible swing range there will be an estimated 21.91% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $13.87 (1.76%) than the support at $13.35 (2.05%), 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 Pono Capital Two, Inc. stock A Buy?

Pono Capital Two, 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 Hold/Accumulate to a Sell candidate.

Current score: -2.004 Sell Candidate Downgraded

Predicted Opening Price for Pono Capital Two, Inc. of Thursday, June 20, 2024

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