Nuburu, Inc. Stock Forecast
High volatility in Nuburu, Inc. stock price on Friday which ended trading at $0.214
(Updated on May 17, 2024)
The Nuburu, Inc. stock price gained 51.88% on the last trading day (Friday, 17th May 2024), rising from $0.141 to $0.214. During the last trading day the stock fluctuated 94.51% from a day low at $0.201 to a day high of $0.390. The price has fallen in 7 of the last 10 days and is down by -6.96% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 240 million more shares were traded than the day before. In total, 251 million shares were bought and sold for approximately $53.82 million.
The stock lies in the upper part of a very wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $0.233 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 9.35% during the next 3 months and, with a 90% probability hold a price between $0.123 and $0.255 at the end of this 3-month period.
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BURU Signals & Forecast
The Nuburu, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.145 and $0.165. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 15, 2024, and so far it has risen 91.93%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Nuburu, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.192 and $0.166. 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, Nuburu, Inc. finds support just below today's level at $0.192. If this is broken, then the next support from accumulated volume will be at $0.166 and $0.161.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.190 between high and low, or 94.51%. For the last week, the stock has had daily average volatility of 38.04%.
Our recommended stop-loss: $0.206 (-3.90%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (BURU) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Nuburu, Inc. to open at $0.268, and during the day (based on 14 day Average True Range), to move between $0.170 and $0.258, which gives a possible trading interval of +/-$0.0443 (+/-20.69%) up or down from last closing price. If Nuburu, Inc. takes out the full calculated possible swing range there will be an estimated 41.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.230 (7.48%) than the support at $0.192 (10.23%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Nuburu, Inc. 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 Nuburu, Inc. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.446 Buy Candidate Upgraded
Predicted Opening Price for Nuburu, Inc. of Monday, May 20, 2024
Fair opening price May 20, 2024 | Current price |
---|---|
$0.268 ( 25.31%) | $0.214 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BURU
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.458 | 113.86 % | |
R2 | 0.385 | 80.04 % | ||
R1 | 0.341 | 59.14 % | ||
Current price: | 0.214 | |||
Support | S1 | 0.196 | -8.52 % | |
S2 | 0.151 | -29.41 % | ||
S3 | 0.0787 | -63.24 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0.230 | 7.48 % | ||
Current price | 0.214 | |||
Support | S1 | 0.192 | -10.23% | |
S2 | 0.166 | -22.43% | ||
S3 | 0.161 | -24.72% |
FAQ
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