Pensare Acquisition Corp. Warrant Stock Forecast
Pensare Acquisition Corp. Warrant stock downgraded from Buy Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Jan 09, 2020)
No changes to the price of Pensare Acquisition Corp. Warrant stock on the last trading day (Thursday, 9th Jan 2020). During the last trading day the stock fluctuated 0% from a day low at $0.330 to a day high of $0.330. The price has been going up and down for this period, and there has been a 3.13% gain for the last 2 weeks.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.03% during the next 3 months and, with a 90% probability hold a price between $0.307 and $0.404 at the end of this 3-month period.
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WRLSW Signals & Forecast
The Pensare Acquisition Corp. Warrant stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.316 and $0.272. A breakdown below any of these levels will issue sell signals. Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". 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. A sell signal was issued from a pivot top point on Tuesday, December 31, 2019, and so far it has fallen 0%. 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).
Support, Risk & Stop-loss for Pensare Acquisition Corp. Warrant stock
Pensare Acquisition Corp. Warrant finds support from accumulated volume at $0.326 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 40.93%.
Our recommended stop-loss: $0.309 (-6.22%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (WRLSW) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Pensare Acquisition Corp. Warrant to open at $0.330, and during the day (based on 14 day Average True Range), to move between $0.273 and $0.387, which gives a possible trading interval of +/-$0.0568 (+/-17.21%) up or down from last closing price. If Pensare Acquisition Corp. Warrant takes out the full calculated possible swing range there will be an estimated 34.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.326 (1.21%) than the resistance at $0.334 (1.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Pensare Acquisition Corp. Warrant stock A Buy?
Pensare Acquisition Corp. Warrant 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: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Pensare Acquisition Corp. Warrant of Friday, January 10, 2020
Fair opening price January 10, 2020 | Current price |
---|---|
$0.330 ( 0%) | $0.330 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WRLSW
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.330 | . | |
R2 | 0.330 | . | ||
R1 | 0.330 | . | ||
Current price: | 0.330 | |||
Support | S1 | 0.330 | . | |
S2 | 0.330 | . | ||
S3 | 0.330 | . |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.390 | 18.18 % | |
R2 | 0.340 | 3.03 % | ||
R1 | 0.334 | 1.33 % | ||
Current price | 0.330 | |||
Support | S1 | 0.326 | -1.21% | |
S2 | 0.320 | -3.03% | ||
S3 | 0.300 | -9.09% |
FAQ
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