Benton Resources Inc. Stock Forecast
On Tuesday, Benton Resources Inc. stock price gained an impressive 25.00%
(Updated on Jun 25, 2024)
The Benton Resources Inc. stock price gained 25.00% on the last trading day (Tuesday, 25th Jun 2024), rising from $0.104 to $0.130. During the last trading day the stock fluctuated 0% from a day low at $0.130 to a day high of $0.130. The price has been going up and down for this period, and there has been a 8.33% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 thousand more shares were traded than the day before. In total, 5 thousand shares were bought and sold for approximately $650.00 .
The stock lies in the upper part of a very wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $0.130 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 3.63% during the next 3 months and, with a 90% probability hold a price between $0.0899 and $0.135 at the end of this 3-month period.
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BNTRF Signals & Forecast
The Benton Resources Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.112 and $0.109. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has risen 25.00%. Further rise is indicated until a new top pivot has been found. Benton Resources 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Benton Resources Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.110 and $0.100. 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, Benton Resources Inc. finds support just below today's level at $0.110. If this is broken, then the next support from accumulated volume will be at $0.100 and $0.0984.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0 between high and low, or 0%. For the last week, the stock has had daily average volatility of 0%.
Our recommended stop-loss: $0.125 (-3.60%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (BNTRF) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Benton Resources Inc. to open at $0.130, and during the day (based on 14 day Average True Range), to move between $0.121 and $0.139, which gives a possible trading interval of +/-$0.0089 (+/-6.85%) up or down from last closing price. If Benton Resources Inc. takes out the full calculated possible swing range there will be an estimated 13.71% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.110, some $0.0200 (15.38%) from the current price of $0.130, our system finds the risk reward attractive.
Is Benton Resources Inc. stock A Buy?
Benton Resources 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.
Current score: 0.000 Hold/Accumulate Unchanged
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 Benton Resources Inc. of Wednesday, June 26, 2024
Fair opening price June 26, 2024 | Current price |
---|---|
$0.130 ( 0%) | $0.130 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BNTRF
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.130 | - |
R2 | 0.130 | - |
R1 | 0.130 | - |
Price | 0.130 | |
S1 | 0.130 | - |
S2 | 0.130 | - |
S3 | 0.130 | - |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 0 | - |
R1 | 0 | - |
Price | 0.130 | |
S1 | 0.110 | -15.38% |
S2 | 0.100 | -23.08% |
S3 | 0.0984 | -24.31% |
FAQ
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