Bantec, Inc. Stock Forecast

Volatile ride for Bantec, Inc. stock price on Friday moving between $0.0095 and $0.0113
(Updated on May 10, 2024)

BANT Signals & Forecast

The Bantec, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.0094 and $0.0104. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, May 08, 2024, and so far it has fallen -41.67%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Bantec, Inc. stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0090 and $0.0088. 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, Bantec, Inc. finds support just below today's level at $0.0090. If this is broken, then the next support from accumulated volume will be at $0.0088 and $0.0084.

This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0018 between high and low, or 18.63%. For the last week the stock has had daily average volatility of 60.47%.

Our recommended stop-loss: $0.0099 (-5.40%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (BANT) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect Bantec, Inc. to open at $0.0104, and during the day (based on 14 day Average True Range), to move between $0.0072 and $0.0138, which gives a possible trading interval of +/-$0.0033 (+/-31.86%) up or down from last closing price. If Bantec, Inc. takes out the full calculated possible swing range there will be an estimated 63.72% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0111 (5.71%) than the support at $0.0090 (14.29%), 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 Bantec, Inc. stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Buy candidate.

Current score: 1.929 Buy Candidate Upgraded

Predicted Opening Price for Bantec, Inc. of Monday, May 13, 2024

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