Byotrol Stock Forecast
Volatile ride for Byotrol stock price on Friday moving between £0.0638 and £0.118
(Updated on Apr 19, 2024)
The Byotrol stock price fell by -20.00% on the last day (Friday, 19th Apr 2024) from £0.125 to £0.100. During the last trading day the stock fluctuated 84.95% from a day low at £0.0638 to a day high of £0.118. The price has fallen in 6 of the last 10 days and is down by -14.89% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -5 million shares and in total, 6 million shares were bought and sold for approximately £582.03 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. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. 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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BYOT.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Byotrol 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 £0.135 and £0.334. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Byotrol stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved £0.0542 between high and low, or 84.95%. For the last week the stock has had daily average volatility of 95.96%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BYOT.L) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Byotrol to open at £0.0939, and during the day (based on 14 day Average True Range), to move between £0.0150 and £0.185, which gives a possible trading interval of +/-£0.0850 (+/-85.05%) up or down from last closing price. If Byotrol takes out the full calculated possible swing range there will be an estimated 170.10% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ £0.118, some £0.0175 (17.50%) from the current price of £0.100, our system finds the risk reward not very attractive.
Is Byotrol stock A Buy?
Byotrol holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -6.756 Strong Sell Candidate Downgraded
Predicted Opening Price for Byotrol of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| £0.0939 ( 6.07%) | £0.100 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BYOT.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.148 | 48.13 % | |
| R2 | 0.127 | 27.43 % | ||
| R1 | 0.115 | 14.64 % | ||
| Current price: | 0.100 | |||
| Support | S1 | 0.0732 | -26.77 % | |
| S2 | 0.0604 | -39.56 % | ||
| S3 | 0.0397 | -60.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0.124 | 24.00 % | ||
| R1 | 0.118 | 17.50 % | ||
| Current price | 0.100 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
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