Baylin Technologies Inc. Stock Forecast
Stronger technical forecast for Baylin Technologies Inc. stock price after Friday trading.
(Updated on May 17, 2024)
No changes to the price of Baylin Technologies Inc. stock on the last trading day (Friday, 17th May 2024). During the last trading day the stock fluctuated 8.33% from a day low at $0.240 to a day high of $0.260. The price has been going up and down for this period, and there has been a -4% loss for the last 2 weeks.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.233 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 8.23% during the next 3 months and, with a 90% probability hold a price between $0.253 and $0.349 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BYL.TO Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Baylin Technologies 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 $0.246 and $0.266. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 04, 2024, and so far it has fallen -22.58%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Baylin Technologies Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.225 and $0.220. 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, Baylin Technologies Inc. finds support just below today's level at $0.225. If this is broken, then the next support from accumulated volume will be at $0.220 and $0.210.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0200 between high and low, or 8.33%. For the last week, the stock has had daily average volatility of 4.13%.
Our recommended stop-loss: $0.225 (-6.40%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 62 days ago.)
Trading Expectations (BYL.TO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Baylin Technologies Inc. to open at $0.247, and during the day (based on 14 day Average True Range), to move between $0.229 and $0.251, which gives a possible trading interval of +/-$0.0108 (+/-4.51%) up or down from last closing price. If Baylin Technologies Inc. takes out the full calculated possible swing range there will be an estimated 9.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.225 (6.25%) than the resistance at $0.260 (8.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Baylin Technologies Inc. stock A Buy?
Baylin Technologies Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Baylin Technologies Inc. of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $0.247 ( 2.78%) | $0.240 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BYL.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.267 | 11.11 % | |
| R2 | 0.259 | 7.93 % | ||
| R1 | 0.254 | 5.96 % | ||
| Current price: | 0.240 | |||
| Support | S1 | 0.239 | -0.406 % | |
| S2 | 0.234 | -2.37 % | ||
| S3 | 0.227 | -5.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.290 | 20.83 % | |
| R2 | 0.285 | 18.75 % | ||
| R1 | 0.260 | 8.33 % | ||
| Current price | 0.240 | |||
| Support | S1 | 0.225 | -6.25% | |
| S2 | 0.220 | -8.33% | ||
| S3 | 0.210 | -12.50% |
FAQ
Click here for our free guide on how to buy Baylin Technologies Inc. Stock.
