Bynordic Acquisition Corporation Stock Forecast
Big movements in Bynordic Acquisition Corporation stock price on Monday moving 15.33% between high and low
(Updated on Jun 17, 2024)
The Bynordic Acquisition Corporation stock price fell by -14.00% on the last day (Monday, 17th Jun 2024) from $0.0350 to $0.0301. During the last trading day the stock fluctuated 15.33% from a day low at $0.0261 to a day high of $0.0301. The price has fallen in 6 of the last 10 days and is down by -45.47% for this period. Volume has increased on the last day by 88 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, 88 thousand shares were bought and sold for approximately $2.66 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -51.30% during the next 3 months and, with a 90% probability hold a price between $0.0090 and $0.0201 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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BYNOW Signals & Forecast
There are few to no technical positive signals at the moment. The Bynordic Acquisition Corporation 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 $0.0363 and $0.0710. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 12, 2024, and so far it has fallen -36.50%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Bynordic Acquisition Corporation 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 Bynordic Acquisition Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0268. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.
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 $0.0040 between high and low, or 15.33%. For the last week, the stock has had daily average volatility of 22.76%.
Bynordic Acquisition Corporation is oversold on RSI14 (28). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: $0.0285 (-5.44%) (This stock has very high daily movements and this gives very high risk. Low RSI14 is 28 which reduces the risk some. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (BYNOW) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Bynordic Acquisition Corporation to open at $0.0288, and during the day (based on 14 day Average True Range), to move between $0.0187 and $0.0415, which gives a possible trading interval of +/-$0.0114 (+/-38.04%) up or down from last closing price. If Bynordic Acquisition Corporation takes out the full calculated possible swing range there will be an estimated 76.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0268 (10.96%) than the resistance at $0.0350 (16.28%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Bynordic Acquisition Corporation stock A Buy?
Bynordic Acquisition Corporation 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 Bynordic Acquisition Corporation of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $0.0288 ( 4.43%) | $0.0301 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BYNOW
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0328 | 8.86% |
| R2 | 0.0312 | 3.78% |
| R1 | 0.0303 | 0.647% |
| Price | 0.0301 | |
| S1 | 0.0272 | -9.51% |
| S2 | 0.0263 | -12.64% |
| S3 | 0.0248 | -17.72% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0.0350 | 16.28% |
| Price | 0.0301 | |
| S1 | 0.0268 | -10.96% |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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