AVCT Stock Forecast 2023: Will AVCTQ Reach $1?
AVCT Stock Forecast 2023: AVCTQ is technically bullish and the trade recommendation for the next trading day is a buy.
AVCT Stock Price Prediction 2023 is $0.806
AVCT Stock Forecast: Latest Price
Performance in the last 12 months
- 1 Month: -31.5%
- 6 Months: -65.9%
- 12 Months: -97.1%
AVCT Stock Forecast: Technical Analysis
AVCT stock was recently delisted from NASDAQ and now it is listed in the OTC exchange under the ticker symbol AVCTQ. Since its listing on the OTC exchange, ACVT has been surging. However, the stock price of AVCT remains below $1.
In the last week of January 2021, AVCT’s share price was above $140. 12 months down the line, in January 2022, AVCT was trading marginally above $40, losing almost $100 from its share price. At the time of writing, that is in January 2022, AVCT has been reduced to a penny stock and it is valued at less than $1.
Since January 2021, AVCT is down 99%, and since January 2022 AVCT has lost 97% of its value.
AVCT is now listed on the OTC Exchange as ACVTQ.
Performance on the last Trading Day
- Open Price: $0.580
- Close Price: $0.6489
- Gain/Loss: +11.88%
- Overall Market Cap: $18.83 M (Approx.)
AVCTQ’s price recently surged from being close to $0.25 to over $0.70. At the time of writing AVCTQ’s stock price is $0.648. The surge in the AVCT stock price came after AVCTQ was listed on the OTC exchange.
On the above chart, AVCT enjoys support close to $0.547, and the resistance for AVCT is $0.717. AVCT is currently trading below both the 50-day and 200-day moving averages.
The RSI for AVCT is 48.39 and now it is above the 14-day MA. It indicates more buyers have entered the market. The RSI is likely to rise further and before it enters the over brought territory.
The Stochastic RSI and the MACD chart are now indicating a marginal bullish run for AVCT.
The Stoch RSI is now above the 14-day. It has entered the over brought territory and it was on an uptrend as the bulls are in control. It is a buy signal.
The MACD series proper is above the 9-day EMA. The fast line (green) is above the slow line (orange). Trading volume for AVCT has also risen.
- Moving Average: Buy
- RSI: Buy
- Stoch RSI: Buy
- MACD: Buy
AVCT Stock Forecast Today
|1. Market's Wisdom||N/A|
|1a. Market Data||N/A|
|1b. Technical Recommendation||Neutral|
|2. Crowd's Wisdom||Neutral|
|2a. Social Media Buzz||Steady|
|2b. Social Media Sentiment||Neutral|
AVCT Stock Forecast: Q3 Results
- Revenue was steady at $12.56 Million (versus $12.62 m in Q3 2021)
- Gross Profit was down from $1.1 M to a loss of $2.08 M
AVCT Stock Forecast: Performance Analysis
- When AVCT acquired Kandy solutions in December 2020, the company was expected to see solid growth in the market from $58billion in 2021 to $100billion by the end of 2025 and also expected its revenues to grow from $14.3 million in 2020 to around $18.8 million in 2021 and over $37million in 2022.
- Due to the pandemic, everything became remote and the world is heading towards virtualization which increased the demand for cloud communications. So, the company identified the potential of cloud services and expected to grow the same.
- But unfortunately, AVCT did not see huge growth in its market with its revenue down 24.84% year over year from $4.95 million in June 2021 to $3.72 million in June 2022.
- It is still considered a penny stock by some due to its low stock price, which is less than $5.
Long-Term Investors Should Avoid Meme Status of AVCT
Recently, the share price of AVCT has surged more than 100% in the last month. It was trading around $0.15 on August 26th and from there it went to $0.46 on the 31st of August 2022. It definitely indicates that it is catching the meme status again on the Reddit platform. According to WSBTrackers.com, discussion on AVCT stock made up to 5% of daily activity a few weeks ago. This meme status is against the backdrop of important announcements made by the company on August 25th, 2022. The announcement was regarding the change in the management team and corporate board and most importantly plans to review “strategic alternatives”. Strategic alternatives signals towards possible sale/merger. The traders believed that a takeover at a big premium is just around the corner. The company received a similar buyout offer in 2021 at $9 per share which was rejected by the company.
A reverse split is not taken in good spirits by the overall market. It just signals the fact that something is not right with the company. AVCT is no different. Gaining meme status at such a low share price is also reasonable as some traders want to make a quick buck by fooling the larger pool of long-term investors. But there is no materialistic evidence that the company is on the right path and hence long-term investors must avoid this share.
Also Read: MULN Stock Forecast
AVCT stock forecast: Conclusion
As the company is expected to be acquired by any of the large cloud companies along with major changes made in the management and board of directors team such as appointing the new CEO, the stock can grow, but one should be mindful that it comes with many risks.
Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.