Aceto Corporation Forecast and Stock Analysis
Technical ACET stock analysis for Friday June 14, 2019.
Aceto Corporation fell by -2.47% in the last day ( Friday, 14th Jun 2019 ) from $0.17 to $0.17 and has now fallen 3 days in a row. During day the stock fluctuated 11.76% from a day low at $0.17 to a day high of $0.19. The price has been going up and down for this period, and there has been a 6.18% gain for the last 2 weeks. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -332 393 shares and in total 89 711 shares bought and sold for approximately $15 250.90.
Quick summary:
- 30 day high of the ACET stock price was $0.23 and low was $0.10.
- 90 day high was $0.25 and low was $0.04.
- 52 week high for the Aceto Corporation - $4.22 and low - $0.04.
Trend
Aceto Corporation lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 13.73% during the next 3 months and, with 90% probability hold a price between $0.08 and $0.24 at the end of this period.
Signals
Aceto Corporation holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $0.17. On a fall, the stock will find some support from the long-term average at approximately $0.15. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Wednesday June 12, 2019, which indicates further falls 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.
Relative Strength Index (RSI)
RSI14 is 62 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $0.15 and $0.14.
There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Aceto Corporation finds support just below today's level at $0.15. If this is broken, then the next support from accumulated volume will be at $0.14 and $0.13.
Risk
This stock may move much during a day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.02 between high and low, or 11.76%. For the last week the stock has had a daily average volatility of 14.96%.
Our recommended stoploss: $0.16 (-7.50%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from pivot top found 2 days ago.)
14.96 %
Average volatilityOverall risk:
Very Low Low Medium High Very High
Evaluation:
Aceto Corporation 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.
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