Artelo Biosciences, Inc. Stock Forecast
Strong day for Artelo Biosciences, Inc. stock price on Monday rising 9.80% to $0.0056
(Updated on Jun 17, 2024)
The Artelo Biosciences, Inc. stock price gained 9.80% on the last trading day (Monday, 17th Jun 2024), rising from $0.0051 to $0.0056. During the last trading day the stock fluctuated 7.14% from a day low at $0.0056 to a day high of $0.0060. The price has fallen in 5 of the last 10 days and is down by -70.21% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 25 thousand more shares were traded than the day before. In total, 29 thousand shares were bought and sold for approximately $164.64 .
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0049 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -34.00% during the next 3 months and, with a 90% probability hold a price between $0.0032 and $0.0166 at the end of this 3-month period.
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ARTLW Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 9.80%. Further rise is indicated until a new top pivot has been found. Artelo Biosciences, Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. 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. The Artelo Biosciences, Inc. 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 $0.0083 and $0.0124. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Artelo Biosciences, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0051. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0004 between high and low, or 7.14%. For the last week, the stock has had daily average volatility of 20.73%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ARTLW) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Artelo Biosciences, Inc. to open at $0.0057, and during the day (based on 14 day Average True Range), to move between $0.0031 and $0.0081, which gives a possible trading interval of +/-$0.0025 (+/-45.24%) up or down from last closing price. If Artelo Biosciences, Inc. takes out the full calculated possible swing range there will be an estimated 90.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0057 (1.79%) than the support at $0.0051 (8.93%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Artelo Biosciences, Inc. stock A Buy?
Artelo Biosciences, Inc. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.866 Sell Candidate Upgraded
Predicted Opening Price for Artelo Biosciences, Inc. of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $0.0057 ( 2.38%) | $0.0056 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ARTLW
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0061 | 9.52% |
| R2 | 0.0060 | 6.80% |
| R1 | 0.0059 | 5.11% |
| Price | 0.0056 | |
| S1 | 0.0056 | -0.348% |
| S2 | 0.0055 | -2.03% |
| S3 | 0.0053 | -4.76% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0.0057 | 1.79% |
| Price | 0.0056 | |
| S1 | 0.0051 | -8.93% |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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