Avinger Stock Forecast
Volatile ride for Avinger stock price on Thursday moving between $2.93 and $3.27
(Updated on Mar 28, 2024)
The Avinger stock price gained 5.41% on the last trading day (Thursday, 28th Mar 2024), rising from $2.94 to $3.10. During the last trading day the stock fluctuated 11.60% from a day low at $2.93 to a day high of $3.27. The price has risen in 6 of the last 10 days and is up by 7.6% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 26 thousand more shares were traded than the day before. In total, 32 thousand shares were bought and sold for approximately $98.11 thousand.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $2.87 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 9.93% during the next 3 months and, with a 90% probability hold a price between $3.15 and $6.24 at the end of this 3-month period.
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AVGR Signals & Forecast
There are mixed signals in the stock today. The Avinger 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 $3.28. On a fall, the stock will find some support from the short-term average at $3.00. 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. A sell signal was issued from a pivot top point on Tuesday, February 20, 2024, and so far it has fallen -43.13%. 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). Avinger 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.
Support, Risk & Stop-loss for Avinger stock
Avinger finds support from accumulated volume at $3.06 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.340 between high and low, or 11.60%. For the last week, the stock has had daily average volatility of 6.66%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AVGR) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Avinger to open at $3.10, and during the day (based on 14 day Average True Range), to move between $2.78 and $3.42, which gives a possible trading interval of +/-$0.320 (+/-10.33%) up or down from last closing price. If Avinger takes out the full calculated possible swing range there will be an estimated 20.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.06 (1.13%) than the resistance at $3.30 (6.49%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Avinger stock A Buy?
Avinger holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.798 Sell Candidate Unchanged
Predicted Opening Price for Avinger of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$3.10 ( 0.0215%) | $3.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AVGR
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.44 | 10.99 % | |
R2 | 3.31 | 6.80 % | ||
R1 | 3.23 | 4.21 % | ||
Current price: | 3.10 | |||
Support | S1 | 2.97 | -4.17 % | |
S2 | 2.89 | -6.76 % | ||
S3 | 2.76 | -10.95 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.56 | 14.88 % | |
R2 | 3.38 | 9.07 % | ||
R1 | 3.30 | 6.49 % | ||
Current price | 3.10 | |||
Support | S1 | 3.06 | -1.13% | |
S2 | 2.92 | -5.78% | ||
S3 | 2.78 | -10.29% |
FAQ
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