BacTech Environmental Corporation Stock Forecast

BacTech Environmental Corporation stock price down 0% on Friday
(Updated on May 10, 2024)

BAC.CN Signals & Forecast

There are few to no technical positive signals at the moment. The BacTech Environmental Corporation 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 $0.0650 and $0.0670. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -13.33%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for BacTech Environmental Corporation stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0600 and $0.0550. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, BacTech Environmental Corporation finds support just below today's level at $0.0600. If this is broken, then the next support from accumulated volume will be at $0.0550 and $0.0500.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0050 between high and low, or 7.69%. For the last week the stock has had daily average volatility of 6.28%.

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

Trading Expectations (BAC.CN) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect BacTech Environmental Corporation to open at $0.0667, and during the day (based on 14 day Average True Range), to move between $0.0603 and $0.0697, which gives a possible trading interval of +/-$0.0047 (+/-7.16%) up or down from last closing price. If BacTech Environmental Corporation takes out the full calculated possible swing range there will be an estimated 14.32% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0700 (7.69%) than the support at $0.0600 (7.69%), 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 BacTech Environmental Corporation stock A Buy?

The BacTech Environmental Corporation stock holds several negative signals and despite the positive trend, we believe BacTech Environmental Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -1.806 Sell Candidate Unchanged

Predicted Opening Price for BacTech Environmental Corporation of Monday, May 13, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.