Burcon NutraScience Corporation Stock Forecast

High volatility in Burcon NutraScience Corporation stock price on Friday which ended trading at $0.300
(Updated on May 03, 2024)

BU.TO Signals & Forecast

The Burcon NutraScience Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.277 and $0.261. 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, March 26, 2024, and so far it has fallen -11.76%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Burcon NutraScience Corporation stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.280 and $0.275. 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, Burcon NutraScience Corporation finds support just below today's level at $0.280. If this is broken, then the next support from accumulated volume will be at $0.275 and $0.235.

This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0300 between high and low, or 10.00%. For the last week the stock has had daily average volatility of 10.94%.

Our recommended stop-loss: $0.284 (-5.41%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 27 days ago.)

Trading Expectations (BU.TO) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Burcon NutraScience Corporation to open at $0.310, and during the day (based on 14 day Average True Range), to move between $0.275 and $0.325, which gives a possible trading interval of +/-$0.0249 (+/-8.31%) up or down from last closing price. If Burcon NutraScience Corporation takes out the full calculated possible swing range there will be an estimated 16.61% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.280 (6.67%) than the resistance at $0.330 (10.00%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Burcon NutraScience Corporation stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Burcon NutraScience Corporation stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

Current score: 1.135 Buy Candidate Downgraded

Predicted Opening Price for Burcon NutraScience Corporation of Monday, May 6, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.