Red Cat Holdings, Inc. Stock Forecast
Red Cat Holdings, Inc. stock downgraded to Hold/Accumulate
(Updated on Jul 02, 2024)
The Red Cat Holdings, Inc. stock price fell by -2.50% on the last day (Tuesday, 2nd Jul 2024) from $1.20 to $1.17. During the last trading day the stock fluctuated 6.03% from a day low at $1.16 to a day high of $1.23. The price has risen in 6 of the last 10 days and is up by 4.46% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -1 million shares and in total, 251 thousand shares were bought and sold for approximately $293.99 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 -3.23% during the next 3 months and, with a 90% probability hold a price between $0.709 and $1.45 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
RCAT Signals & Forecast
The Red Cat Holdings, 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 $1.13 and $1.04. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -23.53%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Red Cat Holdings, Inc. stock
Red Cat Holdings, Inc. finds support from accumulated volume at $1.13 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0700 between high and low, or 6.03%. For the last week the stock has had daily average volatility of 9.26%.
Our recommended stop-loss: $1.10 (-5.64%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 51 days ago.)
Trading Expectations (RCAT) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Red Cat Holdings, Inc. to open at $1.19, and during the day (based on 14 day Average True Range), to move between $1.06 and $1.28, which gives a possible trading interval of +/-$0.112 (+/-9.54%) up or down from last closing price. If Red Cat Holdings, Inc. takes out the full calculated possible swing range there will be an estimated 19.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.20 (2.56%) than the support at $1.13 (3.42%), 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 Red Cat Holdings, Inc. stock A Buy?
Red Cat Holdings, 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.696 Hold/Accumulate Downgraded
Predicted Opening Price for Red Cat Holdings, Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $1.19 ( 1.42%) | $1.17 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RCAT
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.26 | 7.41% |
| R2 | 1.23 | 5.12% |
| R1 | 1.21 | 3.71% |
| Price | 1.17 | |
| S1 | 1.16 | -0.86% |
| S2 | 1.14 | -2.27% |
| S3 | 1.12 | -4.56% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.46 | 24.79% |
| R2 | 1.42 | 21.37% |
| R1 | 1.20 | 2.56% |
| Price | 1.17 | |
| S1 | 1.13 | -3.42% |
| S2 | 1.12 | -4.27% |
| S3 | 1.06 | -9.40% |
FAQ
Click here for our free guide on how to buy Red Cat Holdings, Inc. Stock.
