WEED Inc Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Volatile ride for WEED Inc stock price on Friday moving between $0.0752 and $0.0900
(Updated on May 03, 2024)
The WEED Inc stock price gained 0.0732% on the last trading day (Friday, 3rd May 2024), rising from $0.0820 to $0.0821. During the last trading day the stock fluctuated 19.68% from a day low at $0.0752 to a day high of $0.0900. The price has fallen in 6 of the last 10 days and is down by -0.89% for this period. Volume fell on the last day by -80 thousand shares and in total, 18 thousand shares were bought and sold for approximately $1.49 thousand. 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 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 $0.0727 and $0.100 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 a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $0.0825. On a fall, the stock will find some support from the long-term average at approximately $0.0795. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 -10.37%. 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 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0148 between high and low, or 19.68%. For the last week the stock has had daily average volatility of 24.54%.
Our recommended stop-loss: $0.0776 (-5.46%) (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 (BUDZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect WEED Inc to open at $0.0824, and during the day (based on 14 day Average True Range), to move between $0.0699 and $0.0942, which gives a possible trading interval of +/-$0.0121 (+/-14.80%) up or down from last closing price. If WEED Inc takes out the full calculated possible swing range there will be an estimated 29.60% 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 (1.17%) than the resistance at $0.0835 (1.75%), 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: 2.274 Buy Candidate Unchanged
Predicted Opening Price for WEED Inc of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.0824 ( 0.439%) | $0.0821 |
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 | 0.0972 | 18.47 % | |
| R2 | 0.0916 | 11.58 % | ||
| R1 | 0.0881 | 7.33 % | ||
| Current price: | 0.0821 | |||
| Support | S1 | 0.0768 | -6.45 % | |
| S2 | 0.0733 | -10.71 % | ||
| S3 | 0.0676 | -17.60 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0980 | 19.42 % | |
| R2 | 0.0916 | 11.56 % | ||
| R1 | 0.0835 | 1.75 % | ||
| Current price | 0.0821 | |||
| Support | S1 | 0.0811 | -1.17% | |
| S2 | 0.0750 | -8.60% | ||
| S3 | 0.0730 | -11.04% |
FAQ
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