Brand Engagement Network, Inc. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Volatile ride for Brand Engagement Network, Inc. stock price on Friday moving between $0.0315 and $0.0476
(Updated on Jun 28, 2024)
The Brand Engagement Network, Inc. stock price gained 1.29% on the last trading day (Friday, 28th Jun 2024), rising from $0.0311 to $0.0315. During the last trading day the stock fluctuated 51.11% from a day low at $0.0315 to a day high of $0.0476. The price has fallen in 4 of the last 10 days and is down by -66.13% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 30 thousand more shares were traded than the day before. In total, 30 thousand shares were bought and sold for approximately $945.00 .
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0290 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -31.57% during the next 3 months and, with a 90% probability hold a price between $0.0198 and $0.0756 at the end of this 3-month period.
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BNAIW Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, June 26, 2024, and so far it has risen 1.29%. Further rise is indicated until a new top pivot has been found. Brand Engagement Network, Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. 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. The Brand Engagement Network, 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 $0.0385 and $0.0803. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Brand Engagement Network, Inc. stock
Brand Engagement Network, Inc. finds support from accumulated volume at $0.0311 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 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 $0.0161 between high and low, or 51.11%. For the last week, the stock has had daily average volatility of 25.97%.
Our recommended stop-loss: $0.0296 (-6.13%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (BNAIW) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Brand Engagement Network, Inc. to open at $0.0369, and during the day (based on 14 day Average True Range), to move between $0.0043 and $0.0587, which gives a possible trading interval of +/-$0.0272 (+/-86.48%) up or down from last closing price. If Brand Engagement Network, Inc. takes out the full calculated possible swing range there will be an estimated 172.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0311 (1.27%) than the resistance at $0.0360 (14.29%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Brand Engagement Network, Inc. stock A Buy?
Brand Engagement Network, Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Brand Engagement Network, Inc. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $0.0369 ( 17.04%) | $0.0315 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BNAIW
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0530 | 68.15% |
| R2 | 0.0468 | 48.62% |
| R1 | 0.0430 | 36.56% |
| Price | 0.0315 | |
| S1 | 0.0307 | -2.49% |
| S2 | 0.0269 | -14.55% |
| S3 | 0.0208 | -34.07% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0.0360 | 14.29% |
| Price | 0.0315 | |
| S1 | 0.0311 | -1.27% |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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