Bowmo Inc. Stock Forecast
High volatility in Bowmo Inc. stock price on Friday which ended trading at $0.0041
(Updated on May 17, 2024)
The Bowmo Inc. stock price gained 7.37% on the last trading day (Friday, 17th May 2024), rising from $0.0038 to $0.0041. During the last trading day the stock fluctuated 40.63% from a day low at $0.0032 to a day high of $0.0045. The price has risen in 6 of the last 10 days and is up by 20% over the past 2 weeks. Volume fell on the last day by -379 thousand shares and in total, 298 thousand shares were bought and sold for approximately $1.22 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 -18.43% during the next 3 months and, with a 90% probability hold a price between $0.0006 and $0.0116 at the end of this 3-month period.
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BOMO Signals & Forecast
The Bowmo Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.0039 and $0.0040. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Friday, March 22, 2024, and so far it has fallen -74.81%. Further fall is indicated until a new bottom pivot has been found. 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 Bowmo Inc. stock
Bowmo Inc. finds support from accumulated volume at $0.0040 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 much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0013 between high and low, or 40.63%. For the last week the stock has had daily average volatility of 35.20%.
Our recommended stop-loss: $0.0039 (-5.42%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 39 days ago.)
Trading Expectations (BOMO) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Bowmo Inc. to open at $0.0039, and during the day (based on 14 day Average True Range), to move between $0.0028 and $0.0054, which gives a possible trading interval of +/-$0.0013 (+/-31.38%) up or down from last closing price. If Bowmo Inc. takes out the full calculated possible swing range there will be an estimated 62.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0040 (1.96%) than the resistance at $0.0045 (10.29%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Bowmo Inc. stock A Buy?
Bowmo 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.854 Hold/Accumulate Upgraded
Predicted Opening Price for Bowmo Inc. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.0039 ( 3.76%) | $0.0041 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BOMO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0052 | 28.10 % | |
| R2 | 0.0047 | 15.93 % | ||
| R1 | 0.0044 | 8.41 % | ||
| Current price: | 0.0041 | |||
| Support | S1 | 0.0034 | -15.93 % | |
| S2 | 0.0031 | -23.45 % | ||
| S3 | 0.0026 | -35.62 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0050 | 22.94 % | |
| R2 | 0.0050 | 22.55 % | ||
| R1 | 0.0045 | 10.29 % | ||
| Current price | 0.0041 | |||
| Support | S1 | 0.0040 | -1.96% | |
| S2 | 0.0035 | -14.22% | ||
| S3 | 0.0033 | -19.12% |
FAQ
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