AquaBounty Technologies Inc Stock Forecast
On Friday, AquaBounty Technologies Inc stock price gained an impressive 5.41%
(Updated on Apr 26, 2024)
The AquaBounty Technologies Inc stock price gained 5.41% on the last trading day (Friday, 26th Apr 2024), rising from $1.85 to $1.95. During the last trading day the stock fluctuated 7.14% from a day low at $1.82 to a day high of $1.95. The price has risen in 6 of the last 10 days and is up by 4.84% over the past 2 weeks. Volume fell on the last day by -898 shares and in total, 5 thousand shares were bought and sold for approximately $10.13 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies the upper part of a wide and falling trend in the short term, and this may 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 $1.98 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 -31.02% during the next 3 months and, with a 90% probability hold a price between $1.14 and $1.36 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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AQB Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 13.37%. Further rise is indicated until a new top pivot has been found. 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 AquaBounty Technologies Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $1.96. On a fall, the stock will find some support from the short-term average at $1.81. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for AquaBounty Technologies Inc stock
AquaBounty Technologies Inc finds support from accumulated volume at $1.87 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.130 between high and low, or 7.14%. For the last week the stock has had daily average volatility of 5.53%.
Our recommended stop-loss: $1.88 (-3.46%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (AQB) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect AquaBounty Technologies Inc to open at $1.91, and during the day (based on 14 day Average True Range), to move between $1.84 and $2.06, which gives a possible trading interval of +/-$0.108 (+/-5.51%) up or down from last closing price. If AquaBounty Technologies Inc takes out the full calculated possible swing range there will be an estimated 11.03% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.87 (4.10%) than the resistance at $2.13 (9.23%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
AquaBounty Technologies Inc will release earnings BMO on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is -$1.42. We will update the financials statements for AquaBounty Technologies Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 10.65% in the first trading day after earnings release.
Is AquaBounty Technologies Inc stock A Buy?
AquaBounty Technologies Inc 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.605 Hold/Accumulate Upgraded
Predicted Opening Price for AquaBounty Technologies Inc of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $1.91 ( 2.22%) | $1.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AQB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.04 | 4.44 % | |
| R2 | 1.99 | 1.90 % | ||
| R1 | 1.96 | 0.324 % | ||
| Current price: | 1.95 | |||
| Support | S1 | 1.86 | -4.77 % | |
| S2 | 1.83 | -6.34 % | ||
| S3 | 1.78 | -8.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.29 | 17.44 % | |
| R2 | 2.25 | 15.38 % | ||
| R1 | 2.13 | 9.23 % | ||
| Current price | 1.95 | |||
| Support | S1 | 1.87 | -4.10% | |
| S2 | 1.86 | -4.62% | ||
| S3 | 1.75 | -10.26% |
FAQ
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