BlackStar Enterprise Group, Inc. Stock Forecast

High volatility in BlackStar Enterprise Group, Inc. stock price on Thursday which ended trading at $0.0022
(Updated on May 09, 2024)

BEGI Signals & Forecast

The BlackStar Enterprise Group, Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $0.0027. On a fall, the stock will find some support from the long-term average at approximately $0.0018. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. 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 Thursday, May 02, 2024, and so far it has fallen -35.29%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for BlackStar Enterprise Group, Inc. stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0021 and $0.0019. 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, BlackStar Enterprise Group, Inc. finds support just below today's level at $0.0021. If this is broken, then the next support from accumulated volume will be at $0.0019 and $0.0018.

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 $0.0007 between high and low, or 36.84%. For the last week, the stock has had daily average volatility of 33.07%.

Our recommended stop-loss: $0.0021 (-5.78%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 5 days ago.)

Trading Expectations (BEGI) For The Upcoming Trading Day Of Friday 10th

For the upcoming trading day on Friday, 10th we expect BlackStar Enterprise Group, Inc. to open at $0.0022, and during the day (based on 14 day Average True Range), to move between $0.0017 and $0.0027, which gives a possible trading interval of +/-$0.0005 (+/-21.98%) up or down from last closing price. If BlackStar Enterprise Group, Inc. takes out the full calculated possible swing range there will be an estimated 43.96% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0021 (6.82%) than the resistance at $0.0025 (13.64%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is BlackStar Enterprise Group, Inc. stock A Buy?

BlackStar Enterprise Group, Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.447 Hold/Accumulate Downgraded

Predicted Opening Price for BlackStar Enterprise Group, Inc. of Friday, May 10, 2024

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