Barrel Energy Inc Stock Forecast
Big movements in Barrel Energy Inc stock price on Monday moving 16.00% between high and low
(Updated on May 20, 2024)
The Barrel Energy Inc stock price fell by -10.71% on the last day (Monday, 20th May 2024) from $0.0056 to $0.0050. During the last trading day the stock fluctuated 16.00% from a day low at $0.0050 to a day high of $0.0058. The price has fallen in 5 of the last 10 days and is down by -12.28% for this period. Volume has increased on the last day by 414 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, 591 thousand shares were bought and sold for approximately $2.95 thousand.
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 -40.07% during the next 3 months and, with a 90% probability hold a price between $0.0024 and $0.0048 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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BRLL Signals & Forecast
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 Barrel Energy 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 $0.0054 and $0.0069. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 03, 2024, and so far it has fallen -20.63%. Further fall is indicated until a new bottom pivot has been found. Barrel Energy 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 Barrel Energy 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 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 $0.0008 between high and low, or 16.00%. For the last week, the stock has had daily average volatility of 13.76%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BRLL) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Barrel Energy Inc to open at $0.0053, and during the day (based on 14 day Average True Range), to move between $0.0041 and $0.0059, which gives a possible trading interval of +/-$0.0009 (+/-18.53%) up or down from last closing price. If Barrel Energy Inc takes out the full calculated possible swing range there will be an estimated 37.05% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.0052, some $0.0002 (4.00%) from the current price of $0.0050, our system finds the risk reward not very attractive.
Is Barrel Energy Inc stock A Buy?
Barrel Energy Inc holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.983 Strong Sell Candidate Downgraded
Predicted Opening Price for Barrel Energy Inc of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $0.0053 ( 5.33%) | $0.0050 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BRLL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0061 | 21.33 % | |
| R2 | 0.0058 | 15.22 % | ||
| R1 | 0.0056 | 11.45 % | ||
| Current price: | 0.0050 | |||
| Support | S1 | 0.0050 | -0.779 % | |
| S2 | 0.0048 | -4.55 % | ||
| S3 | 0.0045 | -10.67 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0060 | 20.00 % | |
| R2 | 0.0057 | 14.00 % | ||
| R1 | 0.0052 | 4.00 % | ||
| Current price | 0.0050 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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