Red Cat Holdings, Inc. Stock Forecast

Volatile ride for Red Cat Holdings, Inc. stock price on Thursday moving between $0.90 and $1.44
(Updated on Apr 18, 2024)

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 $1.03 and $0.83. 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 Wednesday, April 17, 2024, and so far it has fallen -25.35%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Red Cat Holdings, Inc. stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.95 and $0.90. 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, Red Cat Holdings, Inc. finds support just below today's level at $0.95. If this is broken, then the next support from accumulated volume will be at $0.90 and $0.81.

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 $0.540 between high and low, or 60.00%. For the last week, the stock has had daily average volatility of 28.50%.

Our recommended stop-loss: $1.01 (-4.74%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (RCAT) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect Red Cat Holdings, Inc. to open at $1.13, and during the day (based on 14 day Average True Range), to move between $0.93 and $1.19, which gives a possible trading interval of +/-$0.129 (+/-12.14%) 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 24.28% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $1.12 (5.66%) than the support at $0.95 (10.38%), 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?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Red Cat Holdings, Inc. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.484 Buy Candidate Upgraded

Predicted Opening Price for Red Cat Holdings, Inc. of Friday, April 19, 2024

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