Arch Therapeutics Inc Stock Forecast
Arch Therapeutics Inc stock price ended at $1.18 on Thursday, after gaining 1.72%.
(Updated on Apr 18, 2024)
The Arch Therapeutics Inc stock price gained 1.72% on the last trading day (Thursday, 18th Apr 2024), rising from $1.16 to $1.18. During the last trading day the stock fluctuated 3.45% from a day low at $1.16 to a day high of $1.20. The price has fallen in 5 of the last 10 days and is down by -30.59% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 thousand more shares were traded than the day before. In total, 7 thousand shares were bought and sold for approximately $8.13 thousand.
The stock lies the upper part of a very 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 $1.22 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 -68.80% during the next 3 months and, with a 90% probability hold a price between $0.0327 and $0.381 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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ARTH Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 5.59%. Further rise is indicated until a new top pivot has been found. Arch Therapeutics Inc has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Arch Therapeutics Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $1.31 and $1.83. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Arch Therapeutics Inc stock
Arch Therapeutics Inc finds support from accumulated volume at $1.16 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0400 between high and low, or 3.45%. For the last week, the stock has had daily average volatility of 12.05%.
Arch Therapeutics Inc is oversold on RSI14 (13). 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: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ARTH) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Arch Therapeutics Inc to open at $1.18, and during the day (based on 14 day Average True Range), to move between $1.00 and $1.36, which gives a possible trading interval of +/-$0.179 (+/-15.18%) up or down from last closing price. If Arch Therapeutics Inc takes out the full calculated possible swing range there will be an estimated 30.35% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $1.16, some $0.0200 (1.69%) from the current price of $1.18, our system finds the risk reward attractive.
Is Arch Therapeutics Inc stock A Buy?
Arch Therapeutics Inc holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -5.903 Strong Sell Candidate Unchanged
Predicted Opening Price for Arch Therapeutics Inc of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $1.18 ( 0%) | $1.18 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ARTH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.22 | 3.39 % | |
| R2 | 1.20 | 2.09 % | ||
| R1 | 1.20 | 1.29 % | ||
| Current price: | 1.18 | |||
| Support | S1 | 1.16 | -1.29 % | |
| S2 | 1.16 | -2.09 % | ||
| S3 | 1.14 | -3.39 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 1.18 | |||
| Support | S1 | 1.16 | -1.69% | |
| S2 | 1.13 | -4.24% | ||
| S3 | 1.12 | -5.30% |
FAQ
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