BacTech Environmental Corporation Stock Forecast
Weaker technical forecast for BacTech Environmental Corporation as stock downgraded to Sell Candidate.
(Updated on May 17, 2024)
The BacTech Environmental Corporation stock price fell by -3.97% on the last day (Friday, 17th May 2024) from $0.0479 to $0.0460. During the last trading day the stock fluctuated 6.47% from a day low at $0.0433 to a day high of $0.0461. The price has been going up and down for this period, and there has been a -5.62% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -492 shares and in total, 7 thousand shares were bought and sold for approximately $299.37 .
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0417 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 28.54% during the next 3 months and, with a 90% probability hold a price between $0.0535 and $0.0819 at the end of this 3-month period.
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BCCEF 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 $0.0461 and $0.0506. 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 17, 2024, and so far it has fallen -21.64%. 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 along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. 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 $0.0410 and $0.0385. 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 $0.0410. If this is broken, then the next support from accumulated volume will be at $0.0385 and $0.0380.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0028 between high and low, or 6.47%. For the last week the stock has had daily average volatility of 1.29%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BCCEF) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect BacTech Environmental Corporation to open at $0.0451, and during the day (based on 14 day Average True Range), to move between $0.0426 and $0.0494, which gives a possible trading interval of +/-$0.0034 (+/-7.46%) up or down from last closing price. If BacTech Environmental Corporation takes out the full calculated possible swing range there will be an estimated 14.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0410 (10.87%) than the resistance at $0.0528 (14.78%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -4.905 Sell Candidate Downgraded
Predicted Opening Price for BacTech Environmental Corporation of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.0451 ( 1.88%) | $0.0460 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BCCEF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0479 | 4.20 % | |
| R2 | 0.0469 | 1.88 % | ||
| R1 | 0.0462 | 0.441 % | ||
| Current price: | 0.0460 | |||
| Support | S1 | 0.0441 | -4.21 % | |
| S2 | 0.0434 | -5.65 % | ||
| S3 | 0.0423 | -7.97 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0564 | 22.61 % | |
| R2 | 0.0529 | 14.89 % | ||
| R1 | 0.0528 | 14.78 % | ||
| Current price | 0.0460 | |||
| Support | S1 | 0.0410 | -10.87% | |
| S2 | 0.0385 | -16.30% | ||
| S3 | 0.0380 | -17.39% |
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