Avalon Holdings Corp Stock Forecast
Evaluation of Avalon Holdings Corp stock downgraded after the last trading session.
(Updated on Mar 28, 2024)
The Avalon Holdings Corp stock price fell by -0.0403% on the last day (Thursday, 28th Mar 2024) from $2.23 to $2.23. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 7.62% from a day low at $2.23 to a day high of $2.40. The price has fallen in 8 of the last 10 days and is down by -7.46% for this period. 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 -632 shares and in total, 701 shares were bought and sold for approximately $1.56 thousand.
The stock lies in the lower part of a 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 $2.19 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 3.99% during the next 3 months and, with a 90% probability hold a price between $2.28 and $2.63 at the end of this 3-month period.
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AWX Signals & Forecast
There are few to no technical positive signals at the moment. The Avalon Holdings Corp stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $2.35 and $2.32. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -11.50%. 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 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Avalon Holdings Corp stock
Avalon Holdings Corp finds support from accumulated volume at $2.20 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 $0.170 between high and low, or 7.62%. For the last week the stock has had daily average volatility of 5.65%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AWX) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Avalon Holdings Corp to open at $2.29, and during the day (based on 14 day Average True Range), to move between $2.11 and $2.35, which gives a possible trading interval of +/-$0.125 (+/-5.59%) up or down from last closing price. If Avalon Holdings Corp takes out the full calculated possible swing range there will be an estimated 11.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.25 (0.89%) than the support at $2.20 (1.35%), 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 Avalon Holdings Corp stock A Buy?
The Avalon Holdings Corp stock holds several negative signals and despite the positive trend, we believe Avalon Holdings Corp will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.063 Sell Candidate Downgraded
Predicted Opening Price for Avalon Holdings Corp of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$2.29 ( 2.54%) | $2.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AWX
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.46 | 10.16 % | |
R2 | 2.39 | 7.25 % | ||
R1 | 2.35 | 5.45 % | ||
Current price: | 2.23 | |||
Support | S1 | 2.22 | -0.371 % | |
S2 | 2.18 | -2.17 % | ||
S3 | 2.12 | -5.08 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.42 | 8.52 % | |
R2 | 2.39 | 7.17 % | ||
R1 | 2.25 | 0.89 % | ||
Current price | 2.23 | |||
Support | S1 | 2.20 | -1.35% | |
S2 | 2.18 | -2.25% | ||
S3 | 2.16 | -3.14% |
FAQ
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