CEA Industries Inc. Stock Forecast
A very strong day for CEA Industries Inc. stock price on Friday
(Updated on May 17, 2024)
The CEA Industries Inc. stock price gained 5.49% on the last trading day (Friday, 17th May 2024), rising from $0.711 to $0.750. During the last trading day the stock fluctuated 9.79% from a day low at $0.720 to a day high of $0.791. The price has risen in 6 of the last 10 days and is up by 10.13% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 6 thousand more shares were traded than the day before. In total, 35 thousand shares were bought and sold for approximately $26.46 thousand.
The stock lies in the upper part of a very wide and strong 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 $0.762 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 36.11% during the next 3 months and, with a 90% probability hold a price between $0.769 and $1.04 at the end of this 3-month period.
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CEAD Signals & Forecast
The CEA Industries Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.714 and $0.643. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 53.15%. Further rise is indicated until a new top pivot has been found. CEA Industries Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for CEA Industries Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.660 and $0.594. 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, CEA Industries Inc. finds support just below today's level at $0.660. If this is broken, then the next support from accumulated volume will be at $0.594 and $0.581.
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 $0.0705 between high and low, or 9.79%. For the last week, the stock has had daily average volatility of 7.39%.
Our recommended stop-loss: $0.721 (-3.92%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (CEAD) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect CEA Industries Inc. to open at $0.754, and during the day (based on 14 day Average True Range), to move between $0.693 and $0.81, which gives a possible trading interval of +/-$0.0567 (+/-7.56%) up or down from last closing price. If CEA Industries Inc. takes out the full calculated possible swing range there will be an estimated 15.12% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.660, some $0.0900 (12.00%) from the current price of $0.750, our system finds the risk reward attractive.
Is CEA Industries Inc. stock A Buy?
CEA Industries Inc. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 7.157 Strong Buy Candidate Upgraded
Predicted Opening Price for CEA Industries Inc. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.754 ( 0.476%) | $0.750 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CEAD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.82 | 9.88 % | |
| R2 | 0.797 | 6.28 % | ||
| R1 | 0.780 | 4.07 % | ||
| Current price: | 0.750 | |||
| Support | S1 | 0.727 | -3.12 % | |
| S2 | 0.710 | -5.33 % | ||
| S3 | 0.683 | -8.92 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.750 | |||
| Support | S1 | 0.660 | -12.00% | |
| S2 | 0.594 | -20.75% | ||
| S3 | 0.581 | -22.53% |
FAQ
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