Spark I Acquisition Corp. Class A Stock Forecast
Green day on Monday for Spark I Acquisition Corp. Class A
(Updated on Jun 17, 2024)
The Spark I Acquisition Corp. Class A stock price gained 0.0967% on the last trading day (Monday, 17th Jun 2024), rising from $10.34 to $10.35. During the last trading day the stock fluctuated 0.580% from a day low at $10.35 to a day high of $10.41. The price has risen in 5 of the last 10 days and is up by 0.1% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 82 thousand more shares were traded than the day before. In total, 86 thousand shares were bought and sold for approximately $889.04 thousand.
The stock is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Spark I Acquisition Corp. Class A stock with a 90% probability to be traded between $10.38 and $10.47 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SPKL Signals & Forecast
The Spark I Acquisition Corp. Class A 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 $10.35 and $10.32. 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). Spark I Acquisition Corp. Class A 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. Higher liquidity also reduces the general risk. 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 Thursday, June 06, 2024, and so far it has fallen -0.0965%. Further fall is indicated until a new bottom pivot has been found.
A sell signal from a double top formation was found on Thursday, June 06, 2024 and based on theory for this formation the price should fall by -0.710% to $10.28 within 26 trading days since signal was issued (Tuesday, June 18, 2024).
Support, Risk & Stop-loss for Spark I Acquisition Corp. Class A stock
Spark I Acquisition Corp. Class A finds support from accumulated volume at $10.31 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0600 between high and low, or 0.580%. For the last week the stock has had daily average volatility of 0.279%.
Our recommended stop-loss: $9.72 (-6.12%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (SPKL) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Spark I Acquisition Corp. Class A Ordinary Share to open at $10.37, and during the day (based on 14 day Average True Range), to move between $10.30 and $10.40, which gives a possible trading interval of +/-$0.0475 (+/-0.46%) up or down from last closing price. If Spark I Acquisition Corp. Class A Ordinary Share takes out the full calculated possible swing range there will be an estimated 0.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $10.36 (0.10%) than the support at $10.31 (0.37%), 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 Spark I Acquisition Corp. Class A Ordinary Share stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Spark I Acquisition Corp. Class A stock to perform well in the short-term period.
Current score: 3.030 Buy Candidate Unchanged
Predicted Opening Price for Spark I Acquisition Corp. Class A Ordinary Share of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $10.37 ( 0.161%) | $10.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SPKL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.43 | 0.741% |
| R2 | 10.40 | 0.519% |
| R1 | 10.39 | 0.382% |
| Price | 10.35 | |
| S1 | 10.34 | -0.0604% |
| S2 | 10.33 | -0.197% |
| S3 | 10.31 | -0.419% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 10.36 | 0.0966% |
| Price | 10.35 | |
| S1 | 10.31 | -0.370% |
| S2 | 10.29 | -0.580% |
| S3 | 10.27 | -0.773% |
FAQ
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