Applied Optoelectronics Forecast and Stock Analysis
Technical AAOI stock analysis for April 24, 2019.
Applied Optoelectronics gained 3.06% in the last trading day, rising from $12.40 to $12.78 , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. The price has risen in 7 of the last 10 days and is up by 5.97% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 32 649 more shares were traded than the day before. In total, 493 512 shares bought and sold for approximately $6.31 million.
Close price at the end of the last trading day (Wednesday, 24th Apr 2019) of the AAOI stock was $12.78. This is 3.06% more than the trading day before Tuesday, 23rd Apr 2019.
During day the stock fluctuated 4.66% from a day low at $12.24 to a day high of $12.81.
30 day high of the AAOI stock price was $13.24 and low was $11.77.
90 day high was $18.04 and low was $11.77.
52 week high for the Applied Optoelectronics - $50.30 and low - $11.77.
Applied Optoelectronics lies the upper part of a very wide and falling trend in the short term, and this will 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 $13.22 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 -28.78% during the next 3 months and, with 90% probability hold a price between $7.12 and $9.41 at the end of this period.
A buy signal was issued from a pivot bottom point on Monday April 22, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Applied Optoelectronics holds a buysignal from the short-term moving average; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general sales signal in the stock. On further gains, the stock will meet resistance from the long-term moving average at $12.85. On a fall, the stock will find some support from the short-term average at $12.53. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal.
Relative Strength Index (RSI)
RSI14 is 54 and the stock is currently not being overbought or oversold
Support & Resistance
Applied Optoelectronics finds support from accumulated volume at $12.71.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $0.57 (4.66%) between high and low. For the last week, the stock has had a daily average volatility of 3.65%.
Our recommended stoploss: $12.15 (-4.97%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 2 days ago.)
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Applied Optoelectronics holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Hold/Accumulate.
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|AAOI $12.78 ($0.38 3.06%)|
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