Branchout Food Inc. Stock Forecast
A very strong day for Branchout Food Inc. stock price on Tuesday
(Updated on Jun 18, 2024)
The Branchout Food Inc. stock price gained 6.29% on the last trading day (Tuesday, 18th Jun 2024), rising from $1.43 to $1.52. During the last trading day the stock fluctuated 9.65% from a day low at $1.45 to a day high of $1.59. The price has fallen in 6 of the last 10 days. Volume fell on the last day by -43 thousand shares and in total, 20 thousand shares were bought and sold for approximately $29.66 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 middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -11.18% during the next 3 months and, with a 90% probability hold a price between $0.81 and $2.12 at the end of this 3-month period.
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BOF Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 10, 2024, and so far it has risen 12.59%. Further rise is indicated until a new top pivot has been found. 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. The Branchout Food Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $1.74. On a fall, the stock will find some support from the short-term average at $1.45. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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 Branchout Food Inc. stock
Branchout Food Inc. finds support from accumulated volume at $1.46 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.140 between high and low, or 9.65%. For the last week the stock has had daily average volatility of 9.77%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BOF) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Branchout Food Inc. to open at $1.52, and during the day (based on 14 day Average True Range), to move between $1.35 and $1.69, which gives a possible trading interval of +/-$0.166 (+/-10.93%) up or down from last closing price. If Branchout Food Inc. takes out the full calculated possible swing range there will be an estimated 21.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.46 (3.95%) than the resistance at $1.60 (5.26%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Branchout Food Inc. stock A Buy?
Branchout Food Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -1.961 Sell Candidate Upgraded
Predicted Opening Price for Branchout Food Inc. of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| $1.52 ( 0.0022%) | $1.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BOF
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.66 | 9.20% |
| R2 | 1.61 | 5.69% |
| R1 | 1.57 | 3.51% |
| Price | 1.52 | |
| S1 | 1.47 | -3.52% |
| S2 | 1.43 | -5.69% |
| S3 | 1.38 | -9.21% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.85 | 21.71% |
| R2 | 1.84 | 21.05% |
| R1 | 1.60 | 5.26% |
| Price | 1.52 | |
| S1 | 1.46 | -3.95% |
| S2 | 1.43 | -5.92% |
| S3 | 1.17 | -23.03% |
FAQ
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