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
Cansortium Inc. stock price down 4.00% on Thursday
(Updated on May 02, 2024)
The Cansortium Inc. stock price fell by -4.00% on the last day (Thursday, 2nd May 2024) from $0.200 to $0.192. During the last trading day the stock fluctuated 9.94% from a day low at $0.181 to a day high of $0.199. The price has fallen in 6 of the last 10 days but is still up by 1.05% over the past 2 weeks. 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 -279 thousand shares and in total, 189 thousand shares were bought and sold for approximately $36.20 thousand.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.84% during the next 3 months and, with a 90% probability hold a price between $0.165 and $0.259 at the end of this 3-month period.
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CNTMF Signals & Forecast
There are mixed signals in the stock today. The Cansortium Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.204. On a fall, the stock will find some support from the short-term average at $0.183. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -11.93%. 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 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. 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 $0.190 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 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 $0.0180 between high and low, or 9.94%. For the last week the stock has had daily average volatility of 21.43%.
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 Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Cansortium Inc. to open at $0.191, and during the day (based on 14 day Average True Range), to move between $0.167 and $0.217, which gives a possible trading interval of +/-$0.0254 (+/-13.25%) up or down from last closing price. If Cansortium Inc. takes out the full calculated possible swing range there will be an estimated 26.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.190 (1.04%) than the resistance at $0.200 (4.17%), 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?
Cansortium Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.448 Sell Candidate Unchanged
Predicted Opening Price for Cansortium Inc. of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $0.191 ( 0.694%) | $0.192 |
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 | 0.209 | 8.68 % | |
| R2 | 0.202 | 5.10 % | ||
| R1 | 0.198 | 2.89 % | ||
| Current price: | 0.192 | |||
| Support | S1 | 0.184 | -4.28 % | |
| S2 | 0.180 | -6.49 % | ||
| S3 | 0.173 | -10.07 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.220 | 14.58 % | |
| R2 | 0.210 | 9.37 % | ||
| R1 | 0.200 | 4.17 % | ||
| Current price | 0.192 | |||
| Support | S1 | 0.190 | -1.04% | |
| S2 | 0.185 | -3.65% | ||
| S3 | 0.180 | -6.25% |
FAQ
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