Biotricity Inc Stock Forecast
Biotricity Inc stock price down 4.01% on Friday
(Updated on May 03, 2024)
The Biotricity Inc stock price fell by -4.01% on the last day (Friday, 3rd May 2024) from $1.30 to $1.25. During the last trading day the stock fluctuated 6.40% from a day low at $1.25 to a day high of $1.33. The price has fallen in 6 of the last 10 days and is down by -7.41% for this period. Volume has increased on the last day by 11 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, 55 thousand shares were bought and sold for approximately $69.01 thousand.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $1.25 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 38.20% during the next 3 months and, with a 90% probability hold a price between $1.73 and $2.63 at the end of this 3-month period.
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BTCY 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 Biotricity 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 $1.31 and $1.34. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 19, 2024, and so far it has fallen -23.31%. Further fall is indicated until a new bottom pivot has been found. Biotricity 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 Biotricity Inc stock
Biotricity Inc finds support from accumulated volume at $1.20 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 a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0800 between high and low, or 6.40%. For the last week, the stock has had daily average volatility of 6.03%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BTCY) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Biotricity Inc to open at $1.28, and during the day (based on 14 day Average True Range), to move between $1.11 and $1.39, which gives a possible trading interval of +/-$0.144 (+/-11.53%) up or down from last closing price. If Biotricity Inc takes out the full calculated possible swing range there will be an estimated 23.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.20 (4.00%) than the resistance at $1.31 (4.80%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Biotricity Inc stock A Buy?
The Biotricity Inc stock holds several negative signals and despite the positive trend, we believe Biotricity Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.478 Sell Candidate Unchanged
Predicted Opening Price for Biotricity Inc of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $1.28 ( 2.13%) | $1.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BTCY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.36 | 8.53 % | |
| R2 | 1.33 | 6.09 % | ||
| R1 | 1.31 | 4.58 % | ||
| Current price: | 1.25 | |||
| Support | S1 | 1.25 | -0.311 % | |
| S2 | 1.23 | -1.82 % | ||
| S3 | 1.20 | -4.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.54 | 23.20 % | |
| R2 | 1.34 | 7.20 % | ||
| R1 | 1.31 | 4.80 % | ||
| Current price | 1.25 | |||
| Support | S1 | 1.20 | -4.00% | |
| S2 | 1.17 | -6.14% | ||
| S3 | 1.00 | -20.00% |
FAQ
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