Aqua Metals Stock Forecast
Aqua Metals stock downgraded from Buy Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Mar 27, 2024)
The Aqua Metals stock price fell by -1.69% on the last day (Wednesday, 27th Mar 2024) from $0.532 to $0.523. During the last trading day the stock fluctuated 8.01% from a day low at $0.518 to a day high of $0.560. The price has fallen in 6 of the last 10 days but is still up by 6.5% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -906 thousand shares and in total, 770 thousand shares were bought and sold for approximately $402.66 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -28.58% during the next 3 months and, with a 90% probability hold a price between $0.315 and $0.418 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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AQMS Signals & Forecast
The Aqua Metals stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.490 and $0.516. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 25, 2024, and so far it has risen 11.97%. 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. 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.
Support, Risk & Stop-loss for Aqua Metals stock
Aqua Metals finds support from accumulated volume at $0.520 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 $0.0415 between high and low, or 8.01%. For the last week the stock has had daily average volatility of 6.49%.
Our recommended stop-loss: $0.502 (-4.00%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (AQMS) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Aqua Metals to open at $0.534, and during the day (based on 14 day Average True Range), to move between $0.491 and $0.555, which gives a possible trading interval of +/-$0.0320 (+/-6.12%) up or down from last closing price. If Aqua Metals takes out the full calculated possible swing range there will be an estimated 12.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.520 (0.57%) than the resistance at $0.532 (1.72%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Aqua Metals stock A Buy?
Aqua Metals 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: 0.924 Hold/Accumulate Downgraded
Predicted Opening Price for Aqua Metals of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$0.534 ( 2.06%) | $0.523 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AQMS
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.575 | 9.99 % | |
R2 | 0.559 | 6.96 % | ||
R1 | 0.550 | 5.09 % | ||
Current price: | 0.523 | |||
Support | S1 | 0.518 | -0.97 % | |
S2 | 0.508 | -2.85 % | ||
S3 | 0.492 | -5.88 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.651 | 24.49 % | |
R2 | 0.650 | 24.28 % | ||
R1 | 0.532 | 1.72 % | ||
Current price | 0.523 | |||
Support | S1 | 0.520 | -0.574% | |
S2 | 0.513 | -1.91% | ||
S3 | 0.490 | -6.31% |
FAQ
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