Richtech Robotics Inc. Stock Forecast
Richtech Robotics Inc. stock price up 1.48% on Friday
(Updated on May 10, 2024)
The Richtech Robotics Inc. stock price gained 1.48% on the last trading day (Friday, 10th May 2024), rising from $1.35 to $1.37. During the last trading day the stock fluctuated 5.97% from a day low at $1.34 to a day high of $1.42. The price has fallen in 5 of the last 10 days but is still up by 9.6% over the past 2 weeks. Volume fell on the last day by -70 thousand shares and in total, 204 thousand shares were bought and sold for approximately $279.53 thousand. 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 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 -18.42% during the next 3 months and, with a 90% probability hold a price between $0.90 and $1.49 at the end of this 3-month period.
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RR Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 16.10%. Further rise is indicated until a new top pivot has been found. 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. The Richtech Robotics 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 $1.47. On a fall, the stock will find some support from the short-term average at $1.32. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Richtech Robotics Inc. stock
Richtech Robotics Inc. finds support from accumulated volume at $1.35 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 $0.0800 between high and low, or 5.97%. For the last week the stock has had daily average volatility of 7.54%.
Our recommended stop-loss: $1.33 (-3.20%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (RR) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Richtech Robotics Inc. to open at $1.38, and during the day (based on 14 day Average True Range), to move between $1.24 and $1.50, which gives a possible trading interval of +/-$0.128 (+/-9.32%) up or down from last closing price. If Richtech Robotics Inc. takes out the full calculated possible swing range there will be an estimated 18.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.38 (0.73%) than the support at $1.35 (1.46%), 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 Richtech Robotics Inc. stock A Buy?
Richtech Robotics 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.
Current score: 0.332 Hold/Accumulate Unchanged
Predicted Opening Price for Richtech Robotics Inc. of Monday, May 13, 2024
Fair opening price May 13, 2024 | Current price |
---|---|
$1.38 ( 0.487%) | $1.37 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RR
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.46 | 6.33 % | |
R2 | 1.43 | 4.10 % | ||
R1 | 1.41 | 2.72 % | ||
Current price: | 1.37 | |||
Support | S1 | 1.35 | -1.74 % | |
S2 | 1.33 | -3.12 % | ||
S3 | 1.30 | -5.35 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.67 | 21.90 % | |
R2 | 1.67 | 21.89 % | ||
R1 | 1.38 | 0.730 % | ||
Current price | 1.37 | |||
Support | S1 | 1.35 | -1.46% | |
S2 | 1.34 | -2.19% | ||
S3 | 1.29 | -5.84% |
FAQ
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