Chemistree Technology Inc Stock Forecast
On Friday, Chemistree Technology Inc stock price gained an impressive 22.50%
(Updated on May 31, 2024)
The Chemistree Technology Inc stock price gained 22.50% on the last trading day (Friday, 31st May 2024), rising from $0.0040 to $0.0049. During the last trading day the stock fluctuated 0% from a day low at $0.0049 to a day high of $0.0049. The price has risen in 5 of the last 10 days and is up by 716.67% 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, 90 thousand more shares were traded than the day before. In total, 100 thousand shares were bought and sold for approximately $490.00 .
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 $0.0054 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 11.57% during the next 3 months and, with a 90% probability hold a price between $0.0008 and $0.0061 at the end of this 3-month period.
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CHMJF Signals & Forecast
The Chemistree Technology 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 $0.0034 and $0.0017. A breakdown below any of these levels will issue sell signals. Chemistree Technology 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. A sell signal was issued from a pivot top point on Friday, March 22, 2024, and so far it has fallen -2.00%. 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).
Support, Risk & Stop-loss for Chemistree Technology Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0040. 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 between high and low, or 0%. For the last week, the stock has had daily average volatility of 280.00%.
Our recommended stop-loss: $0.0047 (-5.02%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 52 days ago.)
Trading Expectations (CHMJF) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Chemistree Technology Inc to open at $0.0049, and during the day (based on 14 day Average True Range), to move between $0.0041 and $0.0057, which gives a possible trading interval of +/-$0.0008 (+/-17.00%) up or down from last closing price. If Chemistree Technology Inc takes out the full calculated possible swing range there will be an estimated 34.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0050 (2.04%) than the support at $0.0040 (18.37%), 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 Chemistree Technology 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 Chemistree Technology 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: 3.381 Buy Candidate Upgraded
Predicted Opening Price for Chemistree Technology Inc of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| $0.0049 ( 0%) | $0.0049 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CHMJF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0049 | . | |
| R2 | 0.0049 | . | ||
| R1 | 0.0049 | . | ||
| Current price: | 0.0049 | |||
| Support | S1 | 0.0049 | . | |
| S2 | 0.0049 | . | ||
| S3 | 0.0049 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0.0050 | 2.04 % | ||
| Current price | 0.0049 | |||
| Support | S1 | 0.0040 | -18.37% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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