Banxa Holdings Inc. Stock Forecast
A very red day for Banxa Holdings Inc. stock price after a -11.13% fall in the Friday trading session
(Updated on Jun 28, 2024)
The Banxa Holdings Inc. stock price fell by -11.13% on the last day (Friday, 28th Jun 2024) from $0.445 to $0.395. During the last trading day the stock fluctuated 3.74% from a day low at $0.395 to a day high of $0.410. The price has been going up and down for this period, and there has been a -12.18% loss for the last 2 weeks. Volume has increased on the last day by 13 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 13 thousand shares were bought and sold for approximately $4.94 thousand.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.389 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -16.09% during the next 3 months and, with a 90% probability hold a price between $0.327 and $0.401 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BNXAF Signals & Forecast
There are few to no technical positive signals at the moment. The Banxa Holdings 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 $0.433 and $0.451. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -23.26%. 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). Banxa Holdings Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Banxa Holdings Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.0148 (3.74%) between high and low. For the last week, the stock has had daily average volatility of 0.749%.
Our recommended stop-loss: $0.374 (-5.28%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 31 days ago.)
Trading Expectations (BNXAF) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Banxa Holdings Inc. to open at $0.400, and during the day (based on 14 day Average True Range), to move between $0.382 and $0.409, which gives a possible trading interval of +/-$0.0136 (+/-3.43%) up or down from last closing price. If Banxa Holdings Inc. takes out the full calculated possible swing range there will be an estimated 6.86% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.425, some $0.0300 (7.59%) from the current price of $0.395, our system finds the risk reward not very attractive.
Is Banxa Holdings Inc. stock A Buy?
Banxa Holdings 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.
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 Banxa Holdings Inc. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $0.400 ( 1.25%) | $0.395 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BNXAF
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.415 | 4.99% |
| R2 | 0.409 | 3.56% |
| R1 | 0.406 | 2.68% |
| Price | 0.395 | |
| S1 | 0.394 | -0.182% |
| S2 | 0.391 | -1.07% |
| S3 | 0.385 | -2.50% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.450 | 13.87% |
| R2 | 0.440 | 11.34% |
| R1 | 0.425 | 7.59% |
| Price | 0.395 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
Click here for our free guide on how to buy Banxa Holdings Inc. Stock.
