Bantec, Inc. Stock Forecast
Big movements in Bantec, Inc. stock price on Monday moving 21.62% between high and low
(Updated on Jun 03, 2024)
The Bantec, Inc. stock price fell by -13.95% on the last day (Monday, 3rd Jun 2024) from $0.0043 to $0.0037. During the last trading day the stock fluctuated 21.62% from a day low at $0.0037 to a day high of $0.0045. The price has fallen in 8 of the last 10 days and is down by -56.47% for this period. Volume has increased on the last day by 257 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 506 thousand shares were bought and sold for approximately $1.87 thousand.
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 $0.0029 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -42.29% during the next 3 months and, with a 90% probability hold a price between $0.0016 and $0.0087 at the end of this 3-month period.
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BANT Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 30, 2024, and so far it has risen 15.63%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Bantec, 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 $0.0046 and $0.0075. 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). Bantec, Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". 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 $0.0032. 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 $0.0008 between high and low, or 21.62%. For the last week, the stock has had daily average volatility of 30.78%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BANT) For The Upcoming Trading Day Of Tuesday 4th
For the upcoming trading day on Tuesday, 4th we expect Bantec, Inc. to open at $0.0040, and during the day (based on 14 day Average True Range), to move between $0.0017 and $0.0057, which gives a possible trading interval of +/-$0.0020 (+/-53.43%) up or down from last closing price. If Bantec, Inc. takes out the full calculated possible swing range there will be an estimated 106.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0039 (5.41%) than the support at $0.0032 (13.51%), 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?
Bantec, 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.
Current score: -5.358 Strong Sell Candidate Unchanged
Predicted Opening Price for Bantec, Inc. of Tuesday, June 4, 2024
| Fair opening price June 4, 2024 | Current price |
|---|---|
| $0.0040 ( 7.21%) | $0.0037 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BANT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0048 | 28.83 % | |
| R2 | 0.0045 | 20.57 % | ||
| R1 | 0.0043 | 15.47 % | ||
| Current price: | 0.0037 | |||
| Support | S1 | 0.0037 | -1.05 % | |
| S2 | 0.0035 | -6.15 % | ||
| S3 | 0.0032 | -14.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0.0043 | 16.22 % | ||
| R1 | 0.0039 | 5.41 % | ||
| Current price | 0.0037 | |||
| Support | S1 | 0.0032 | -13.51% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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