Agora AI stock to moon?On the above 3 week chart price action has corrected 98% since early 2021. A number of reasons now exist to expect a reversal. They include:
1) Price action and RSI resistance breakouts.
2) Support confirmation on past resistance.
3) Notice the 3 week hammer candle?
4) Significant resistances at 250% and 770%.
Is it possible price action corrects further? Sure.
Is it probable? No.
Ww
Type: trade
Risk: You decide
Timeframe for long: This month or the next
Return: Not to sneezed at
API trade ideas
Agora (API) long1. Analysis:
- increased volume
- bullish engulfing candle on weak market (big absorption or short covering)
- pre earnings
- previous qt despite EPS miss had surging revenue, might have surprise to the upside
- china is lowering rates while world hike rates, might ramp up growth in growth stocks
- Already beaten down terribly, good entry.
Very good risk/reward ratio, although earnings is a gamble, stop might fly away, very risky but still appealing.
3 price targets marked on the chart (dashed line) with taking profits at levels to secure position and eventually scale back in after breakout of each area of resistance.
API Education Group 🧙Agora Inc provides real-time communication solutions. The company offers real-time video calling, voice calling, live audio and video streaming, recording, and real-time messaging. It serves the gaming, retail, and education industries. The company operates in the People's Republic of China and the United States of America and the majority of its revenue is derived from the People's Republic of China.
Industry
Software - Application
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API over 42.15Agora.io is a developer platform for integrating video and voice connectivity into applications based in Shanghai, China. This name is turning up from oversold conditions and testing the descending trend line. Major fibs, price action, and volume profile provides a nice entry over 42.15. A second, more conservative entry is over 48.