Branded Legacy Inc Stock Forecast

High volatility in Branded Legacy Inc stock price on Wednesday which ended trading at $0.0050
(Updated on May 08, 2024)

BLEG Signals & Forecast

The Branded Legacy 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 $0.0054. On a fall, the stock will find some support from the long-term average at approximately $0.0030. 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). 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 Monday, May 06, 2024, and so far it has fallen -16.67%. Further fall is indicated until a new bottom pivot has been found. 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 Branded Legacy Inc stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0041 and $0.0040. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0.0040 may give a huge drop in the stock price.

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 $0.0014 between high and low, or 31.11%. For the last week the stock has had daily average volatility of 25.58%.

Our recommended stop-loss: $0.0047 (-5.56%) (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 (BLEG) For The Upcoming Trading Day Of Thursday 9th

For the upcoming trading day on Thursday, 9th we expect Branded Legacy Inc to open at $0.0051, and during the day (based on 14 day Average True Range), to move between $0.0041 and $0.0059, which gives a possible trading interval of +/-$0.0009 (+/-17.03%) up or down from last closing price. If Branded Legacy Inc takes out the full calculated possible swing range there will be an estimated 34.06% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0051 (2.00%) than the support at $0.0041 (18.00%), 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 Branded Legacy Inc stock A Buy?

Branded Legacy 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: 0.960 Hold/Accumulate Downgraded

Predicted Opening Price for Branded Legacy Inc of Thursday, May 9, 2024

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