Branded Legacy Inc Stock Forecast
High volatility in Branded Legacy Inc stock price on Friday which ended trading at $0.0022
(Updated on May 31, 2024)
The Branded Legacy Inc stock price gained 2.38% on the last trading day (Friday, 31st May 2024), rising from $0.0021 to $0.0022. During the last trading day the stock fluctuated 15.79% from a day low at $0.0019 to a day high of $0.0022. The price has fallen in 4 of the last 10 days but is still up by 2.38% over the past 2 weeks. Volume fell on the last day by -23 million shares and in total, 11 million shares were bought and sold for approximately $22.59 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 $0.0021 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 40.03% during the next 3 months and, with a 90% probability hold a price between $0.0030 and $0.0092 at the end of this 3-month period.
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BLEG Signals & Forecast
There are few to no technical positive signals at the moment. The Branded Legacy 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 $0.0025 and $0.0033. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen -64.17%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Branded Legacy Inc stock
Branded Legacy Inc finds support from accumulated volume at $0.0021 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.0003 between high and low, or 15.79%. For the last week the stock has had daily average volatility of 28.97%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BLEG) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Branded Legacy Inc to open at $0.0021, and during the day (based on 14 day Average True Range), to move between $0.0013 and $0.0030, which gives a possible trading interval of +/-$0.0009 (+/-41.57%) up or down from last closing price. If Branded Legacy Inc takes out the full calculated possible swing range there will be an estimated 83.14% 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 (2.33%) than the resistance at $0.0023 (6.98%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Branded Legacy Inc stock A Buy?
The Branded Legacy Inc stock holds several negative signals and despite the positive trend, we believe Branded Legacy Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.815 Sell Candidate Unchanged
Predicted Opening Price for Branded Legacy Inc of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| $0.0021 ( 3.10%) | $0.0022 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BLEG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0024 | 10.85 % | |
| R2 | 0.0023 | 5.52 % | ||
| R1 | 0.0022 | 2.23 % | ||
| Current price: | 0.0022 | |||
| Support | S1 | 0.0020 | -8.43 % | |
| S2 | 0.0019 | -11.72 % | ||
| S3 | 0.0018 | -17.05 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0025 | 16.28 % | |
| R2 | 0.0024 | 9.30 % | ||
| R1 | 0.0023 | 6.98 % | ||
| Current price | 0.0022 | |||
| Support | S1 | 0.0021 | -2.33% | |
| S2 | 0.0019 | -11.63% | ||
| S3 | 0.0017 | -20.93% |
FAQ
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