AKRO.X's RSI Indicator recovers from overbought zone
The 10-day RSI Indicator for AKRO.X moved out of overbought territory on June 29, 2024. This could be a sign that the stock is shifting from an upward trend to a downward trend. Traders may want to look at selling the stock or buying put options. Tickeron's A.I.dvisor looked at 50 instances where the indicator moved out of the overbought zone. In 37 of the 50 cases the stock moved lower in the days that followed. This puts the odds of a move down at 74%.
Technical Analysis (Indicators)
Bearish Trend Analysis
AKRO.X moved below its 50-day moving average on July 16, 2024 date and that indicates a change from an upward trend to a downward trend.
The 50-day moving average for AKRO.X moved below the 200-day moving average on June 24, 2024. This could be a long-term bearish signal for the stock as the stock shifts to an downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where AKRO.X declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 69%.
AKRO.X broke above its upper Bollinger Band on June 28, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Aroon Indicator for AKRO.X entered a downward trend on June 27, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
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