Excelfin Acquisition Corp. Stock Forecast
Excelfin Acquisition Corp. stock downgraded from Buy Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Jun 25, 2024)
No changes to the price of Excelfin Acquisition Corp. stock on the last trading day (Tuesday, 25th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $11.07 to a day high of $11.07. The price has been going up and down for this period, and there has been a 0.18% gain for the last 2 weeks.
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 Excelfin Acquisition Corp. stock with a 90% probability to be traded between $11.11 and $11.28 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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XFIN Signals & Forecast
The Excelfin Acquisition Corp. 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 $11.06 and $11.01. A breakdown below any of these levels will issue sell signals. 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 Friday, May 17, 2024, and so far it has fallen -0.270%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Monday, June 03, 2024 and based on theory for this formation the price should go up by 0.0300% to $11.07 within 3 trading days since signal was issued (Thursday, June 06, 2024).
Support, Risk & Stop-loss for Excelfin Acquisition Corp. stock
Excelfin Acquisition Corp. finds support from accumulated volume at $11.00 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%
Our recommended stop-loss: $10.62 (-4.09%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (XFIN) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Excelfin Acquisition Corp. to open at $11.07, and during the day (based on 14 day Average True Range), to move between $11.02 and $11.12, which gives a possible trading interval of +/-$0.0459 (+/-0.41%) up or down from last closing price. If Excelfin Acquisition Corp. takes out the full calculated possible swing range there will be an estimated 0.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11.08 (0.12%) than the support at $11.00 (0.63%), 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 Excelfin Acquisition Corp. stock A Buy?
Excelfin Acquisition Corp. 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.639 Hold/Accumulate Downgraded
Predicted Opening Price for Excelfin Acquisition Corp. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $11.07 ( 0%) | $11.07 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XFIN
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.07 | - |
| R2 | 11.07 | - |
| R1 | 11.07 | - |
| Price | 11.07 | |
| S1 | 11.07 | - |
| S2 | 11.07 | - |
| S3 | 11.07 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.10 | 0.271% |
| R2 | 11.09 | 0.181% |
| R1 | 11.08 | 0.119% |
| Price | 11.07 | |
| S1 | 11.00 | -0.632% |
| S2 | 10.98 | -0.81% |
| S3 | 10.95 | -1.08% |
FAQ
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