Braxia Scientific Corp. Stock Forecast
High volatility in Braxia Scientific Corp. stock price on Friday which ended trading at $0.0064
(Updated on May 17, 2024)
The Braxia Scientific Corp. stock price gained 1.59% on the last trading day (Friday, 17th May 2024), rising from $0.0063 to $0.0064. During the last trading day the stock fluctuated 19.17% from a day low at $0.0060 to a day high of $0.0072. The price has risen in 5 of the last 10 days and is up by 16.36% over the past 2 weeks. Volume fell on the last day by -153 thousand shares and in total, 149 thousand shares were bought and sold for approximately $951.20 . 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 the upper part of a very wide and falling 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 $0.0064 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -17.76% during the next 3 months and, with a 90% probability hold a price between $0.0039 and $0.0053 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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BRAXF Signals & Forecast
The Braxia Scientific Corp. 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 $0.0060 and $0.0062. 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 Tuesday, May 14, 2024, and so far it has fallen -1.54%. 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 Braxia Scientific Corp. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0060 and $0.0055. 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, Braxia Scientific Corp. finds support just below today's level at $0.0060. If this is broken, then the next support from accumulated volume will be at $0.0055 and $0.0050.
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 $0.0012 between high and low, or 19.17%. For the last week the stock has had daily average volatility of 20.54%.
Our recommended stop-loss: $0.0062 (-3.90%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (BRAXF) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Braxia Scientific Corp. to open at $0.0065, and during the day (based on 14 day Average True Range), to move between $0.0053 and $0.0075, which gives a possible trading interval of +/-$0.0011 (+/-17.58%) up or down from last closing price. If Braxia Scientific Corp. takes out the full calculated possible swing range there will be an estimated 35.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0065 (1.56%) than the support at $0.0060 (6.25%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Braxia Scientific Corp. stock A Buy?
Braxia Scientific Corp. 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.715 Hold/Accumulate Downgraded
Predicted Opening Price for Braxia Scientific Corp. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.0065 ( 1.82%) | $0.0064 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BRAXF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0077 | 19.79 % | |
| R2 | 0.0072 | 12.93 % | ||
| R1 | 0.0070 | 8.69 % | ||
| Current price: | 0.0064 | |||
| Support | S1 | 0.0061 | -5.04 % | |
| S2 | 0.0058 | -9.28 % | ||
| S3 | 0.0054 | -16.15 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0073 | 14.06 % | |
| R2 | 0.0071 | 10.94 % | ||
| R1 | 0.0065 | 1.56 % | ||
| Current price | 0.0064 | |||
| Support | S1 | 0.0060 | -6.25% | |
| S2 | 0.0055 | -14.06% | ||
| S3 | 0.0050 | -21.88% |
FAQ
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