Apex Technology Acquisition Corp stock downgraded to Sell Candidate (Updated on August 10, 2021)

Sell candidate since 2021-08-10 PDF

The Apex Technology Acquisition Corp stock price fell by -2.86% on the last day (Tuesday, 10th Aug 2021) from $10.49 to $10.19. During the day the stock fluctuated 4.70% from a day low at $9.98 to a day high of $10.45. The price has fallen in 6 of the last 10 days and is down by -4.86% for this period. Volume has increased on the last day by 901 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 million shares were bought and sold for approximately $21.25 million.

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 2.36% during the next 3 months and, with a 90% probability hold a price between $9.74 and $12.85 at the end of this 3-month period.

Signals & Forecast

Furthermore, there is a buy signal from the 3 months Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Apex Technology Acquisition Corp 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 $10.45 and $10.93. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, July 22, 2021, and so far it has fallen -12.08%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss

Apex Technology Acquisition Corp finds support from accumulated volume at $10.15 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.47 between high and low, or 4.70%. For the last week, the stock has had a daily average volatility of 3.74%.

Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.

Is Apex Technology Acquisition Corp stock A Buy?

The Apex Technology Acquisition Corp stock holds several negative signals and despite the positive trend, we believe Apex Technology Acquisition 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: -1.647

Predicted Opening Price for Apex Technology Acquisition Corp of Wednesday, August 11, 2021

The predicted opening price is based on yesterdays movements between high, low, and the closing price.

Fair opening price August 11, 2021 Current price
$10.21 $10.19 (Undervalued)

Sell Candidate Downgraded

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