Ageagle Aerial Systems Inc Stock Forecast
Stronger technical forecast for Ageagle Aerial Systems Inc stock price after Wednesday trading.
(Updated on Apr 17, 2024)
The Ageagle Aerial Systems Inc stock price fell by -2.74% on the last day (Wednesday, 17th Apr 2024) from $0.656 to $0.638. During the last trading day the stock fluctuated 8.81% from a day low at $0.631 to a day high of $0.687. The price has risen in 6 of the last 10 days and is up by 1.45% 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 -184 thousand shares and in total, 93 thousand shares were bought and sold for approximately $59.17 thousand.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.495 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 43.72% during the next 3 months and, with a 90% probability hold a price between $0.712 and $2.64 at the end of this 3-month period.
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UAVS Signals & Forecast
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 Ageagle Aerial Systems Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.704 and $0.88. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, February 15, 2024, and so far it has fallen -56.29%. 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Ageagle Aerial Systems Inc stock
Ageagle Aerial Systems Inc finds support from accumulated volume at $0.629 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 $0.0556 between high and low, or 8.81%. For the last week the stock has had daily average volatility of 9.92%.
Our recommended stop-loss: $0.598 (-6.26%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 42 days ago.)
Trading Expectations (UAVS) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Ageagle Aerial Systems Inc to open at $0.652, and during the day (based on 14 day Average True Range), to move between $0.554 and $0.723, which gives a possible trading interval of +/-$0.0845 (+/-13.24%) up or down from last closing price. If Ageagle Aerial Systems Inc takes out the full calculated possible swing range there will be an estimated 26.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.629 (1.43%) than the resistance at $0.682 (6.85%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ageagle Aerial Systems Inc stock A Buy?
Ageagle Aerial Systems Inc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.891 Hold/Accumulate Upgraded
Predicted Opening Price for Ageagle Aerial Systems Inc of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $0.652 ( 2.16%) | $0.638 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UAVS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.708 | 10.88 % | |
| R2 | 0.686 | 7.55 % | ||
| R1 | 0.673 | 5.49 % | ||
| Current price: | 0.638 | |||
| Support | S1 | 0.631 | -1.17 % | |
| S2 | 0.618 | -3.22 % | ||
| S3 | 0.596 | -6.55 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.794 | 24.35 % | |
| R2 | 0.776 | 21.61 % | ||
| R1 | 0.682 | 6.85 % | ||
| Current price | 0.638 | |||
| Support | S1 | 0.629 | -1.43% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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