WEED Inc Stock Forecast
High volatility in WEED Inc stock price on Thursday which ended trading at $0.0820
(Updated on May 02, 2024)
The WEED Inc stock price fell by -8.89% on the last day (Thursday, 2nd May 2024) from $0.0900 to $0.0820. During the last trading day the stock fluctuated 19.84% from a day low at $0.0751 to a day high of $0.0900. The price has fallen in 6 of the last 10 days but is still up by 0.92% over the past 2 weeks. Volume has increased on the last day by 47 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, 98 thousand shares were bought and sold for approximately $8.02 thousand.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect WEED Inc stock with a 90% probability to be traded between $0.0724 and $0.0997 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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BUDZ Signals & Forecast
The WEED Inc 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 $0.0818 and $0.0794. 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, April 30, 2024, and so far it has fallen -10.43%. Further fall is indicated until a new bottom pivot has been found. WEED 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 WEED Inc stock
WEED Inc finds support from accumulated volume at $0.0811 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 $0.0149 between high and low, or 19.84%. For the last week, the stock has had daily average volatility of 21.93%.
Our recommended stop-loss: $0.0780 (-4.88%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (BUDZ) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect WEED Inc to open at $0.0824, and during the day (based on 14 day Average True Range), to move between $0.0701 and $0.0939, which gives a possible trading interval of +/-$0.0119 (+/-14.56%) up or down from last closing price. If WEED Inc takes out the full calculated possible swing range there will be an estimated 29.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0811 (1.10%) than the resistance at $0.0835 (1.83%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is WEED Inc stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for WEED Inc stock to perform well in the short-term period.
Current score: 1.812 Buy Candidate Unchanged
Predicted Opening Price for WEED Inc of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $0.0824 ( 0.447%) | $0.0820 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BUDZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0973 | 18.62 % | |
| R2 | 0.0916 | 11.68 % | ||
| R1 | 0.0881 | 7.39 % | ||
| Current price: | 0.0820 | |||
| Support | S1 | 0.0767 | -6.49 % | |
| S2 | 0.0732 | -10.78 % | ||
| S3 | 0.0675 | -17.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0980 | 19.51 % | |
| R2 | 0.0916 | 11.65 % | ||
| R1 | 0.0835 | 1.83 % | ||
| Current price | 0.0820 | |||
| Support | S1 | 0.0811 | -1.10% | |
| S2 | 0.0750 | -8.54% | ||
| S3 | 0.0730 | -10.98% |
FAQ
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