Rekor Systems Inc. Class B Stock Forecast
Green day on Tuesday for Rekor Systems Inc. Class B stock after gaining 1.26%
(Updated on Jul 02, 2024)
The Rekor Systems Inc. Class B stock price gained 1.26% on the last trading day (Tuesday, 2nd Jul 2024), rising from $1.59 to $1.61. During the last trading day the stock fluctuated 8.28% from a day low at $1.57 to a day high of $1.70. The price has risen in 7 of the last 10 days and is up by 13.38% over the past 2 weeks. Volume fell on the last day by -27 thousand shares and in total, 2 million shares were bought and sold for approximately $2.83 million. 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 lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $1.71 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -29.56% during the next 3 months and, with a 90% probability hold a price between $0.685 and $1.21 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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REKR Signals & Forecast
The Rekor Systems Inc. Class B 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 $1.53 and $1.56. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, May 17, 2024, and so far it has risen 21.97%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 Rekor Systems Inc. Class B stock
Rekor Systems Inc. Class B finds support from accumulated volume at $1.55 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 $0.130 between high and low, or 8.28%. For the last week, the stock has had daily average volatility of 7.91%.
Our recommended stop-loss: $1.55 (-3.44%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 60 days ago.)
Trading Expectations (REKR) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Rekor Systems Inc. Class B to open at $1.63, and during the day (based on 14 day Average True Range), to move between $1.49 and $1.73, which gives a possible trading interval of +/-$0.123 (+/-7.66%) up or down from last closing price. If Rekor Systems Inc. Class B takes out the full calculated possible swing range there will be an estimated 15.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.63 (1.24%) than the support at $1.55 (3.73%), 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 Rekor Systems Inc. Class B stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 2.617 Buy Candidate Unchanged
Predicted Opening Price for Rekor Systems Inc. Class B of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $1.63 ( 1.04%) | $1.61 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for REKR
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.76 | 9.11% |
| R2 | 1.71 | 6.03% |
| R1 | 1.68 | 4.12% |
| Price | 1.61 | |
| S1 | 1.58 | -2.05% |
| S2 | 1.55 | -3.95% |
| S3 | 1.50 | -7.04% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.82 | 13.04% |
| R2 | 1.79 | 11.18% |
| R1 | 1.63 | 1.24% |
| Price | 1.61 | |
| S1 | 1.55 | -3.73% |
| S2 | 1.51 | -6.21% |
| S3 | 1.38 | -14.29% |
FAQ
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