Amigo Holdings Plc Stock Forecast

Volatile ride for Amigo Holdings Plc stock price on Thursday moving between £0.215 and £0.237
(Updated on Apr 25, 2024)

AMGO.L Signals & Forecast

The Amigo Holdings Plc stock holds a sell 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 giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately £0.248. On a fall, the stock will find some support from the long-term average at approximately £0.225. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Tuesday, April 02, 2024, and so far it has fallen -30.77%. 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".

Support, Risk & Stop-loss for Amigo Holdings Plc stock

On the downside, the stock finds support just below today's level from accumulated volume at £0.200 and £0.176. There is a 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, Amigo Holdings Plc finds support just below today's level at £0.200. If this is broken, then the next support from accumulated volume will be at £0.176 and £0.175.

This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved £0.0218 between high and low, or 10.14%. For the last week the stock has had daily average volatility of 7.74%.

Amigo Holdings Plc is oversold on RSI14 (8). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

Our recommended stop-loss: £0.210 (-6.69%) (This stock has very high daily movements and this gives very high risk. Low RSI14 is 8 which reduces the risk some. There is a sell signal from a pivot top found 17 days ago.)

Trading Expectations (AMGO.L) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Amigo Holdings Plc to open at £0.226, and during the day (based on 14 day Average True Range), to move between £0.190 and £0.260, which gives a possible trading interval of +/-£0.0352 (+/-15.65%) up or down from last closing price. If Amigo Holdings Plc takes out the full calculated possible swing range there will be an estimated 31.29% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £0.250 (11.11%) than the support at £0.200 (11.11%), 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 Amigo Holdings Plc stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Amigo Holdings Plc stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.111 Buy Candidate Upgraded

Predicted Opening Price for Amigo Holdings Plc of Friday, April 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.