Cansortium Inc. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Stronger technical forecast for Cansortium Inc. stock price after Friday trading.
(Updated on Apr 19, 2024)
No changes to the price of Cansortium Inc. stock on the last trading day (Friday, 19th Apr 2024). During the last trading day the stock fluctuated 6.08% from a day low at $0.181 to a day high of $0.192. The price has fallen in 6 of the last 10 days and is down by -16.48% for this period.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.180 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 25.40% during the next 3 months and, with a 90% probability hold a price between $0.225 and $0.325 at the end of this 3-month period.
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CNTMF Signals & Forecast
There are few to no technical positive signals at the moment. The Cansortium 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 $0.194 and $0.205. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -23.69%. 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). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Cansortium Inc. stock
Cansortium Inc. finds support from accumulated volume at $0.185 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0110 between high and low, or 6.08%. For the last week the stock has had daily average volatility of 8.76%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CNTMF) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Cansortium Inc. to open at $0.188, and during the day (based on 14 day Average True Range), to move between $0.169 and $0.211, which gives a possible trading interval of +/-$0.0211 (+/-11.10%) up or down from last closing price. If Cansortium Inc. takes out the full calculated possible swing range there will be an estimated 22.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.185 (2.63%) than the resistance at $0.200 (5.26%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Cansortium Inc. stock A Buy?
The Cansortium Inc. stock holds several negative signals and despite the positive trend, we believe Cansortium Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.000 Sell Candidate Upgraded
Predicted Opening Price for Cansortium Inc. of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $0.188 ( 1.23%) | $0.190 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CNTMF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.199 | 4.56 % | |
| R2 | 0.194 | 2.35 % | ||
| R1 | 0.192 | 0.98 % | ||
| Current price: | 0.190 | |||
| Support | S1 | 0.183 | -3.44 % | |
| S2 | 0.181 | -4.81 % | ||
| S3 | 0.177 | -7.02 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.220 | 15.79 % | |
| R2 | 0.210 | 10.53 % | ||
| R1 | 0.200 | 5.26 % | ||
| Current price | 0.190 | |||
| Support | S1 | 0.185 | -2.63% | |
| S2 | 0.180 | -5.26% | ||
| S3 | 0.170 | -10.53% |
FAQ
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