Bynd Cannasoft Enterprises Inc. Common Stock Forecast

Big movements in Bynd Cannasoft Enterprises Inc. Common stock price on Tuesday moving 10.82% between high and low
(Updated on Jun 25, 2024)

BCAN Signals & Forecast

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. The Bynd Cannasoft Enterprises Inc. Common 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 $0.689 and $0.86. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen -54.97%. Further fall is indicated until a new bottom pivot has been found. Bynd Cannasoft Enterprises Inc. Common 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".

Support, Risk & Stop-loss for Bynd Cannasoft Enterprises Inc. Common stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0693 between high and low, or 10.82%. For the last week, the stock has had daily average volatility of 6.83%.

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

Trading Expectations (BCAN) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Bynd Cannasoft Enterprises Inc. Common Stock to open at $0.668, and during the day (based on 14 day Average True Range), to move between $0.560 and $0.746, which gives a possible trading interval of +/-$0.0929 (+/-14.23%) up or down from last closing price. If Bynd Cannasoft Enterprises Inc. Common Stock takes out the full calculated possible swing range there will be an estimated 28.45% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $0.750, some $0.0970 (14.86%) from the current price of $0.653, our system finds the risk reward not very attractive.

Is Bynd Cannasoft Enterprises Inc. Common Stock stock A Buy?

Bynd Cannasoft Enterprises Inc. Common 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: -5.394 Strong Sell Candidate Unchanged

Predicted Opening Price for Bynd Cannasoft Enterprises Inc. Common Stock of Wednesday, June 26, 2024

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