Bioharvest Sciences Inc Stock Forecast
Bioharvest Sciences Inc stock price down 1.58% on Wednesday
(Updated on May 22, 2024)
The Bioharvest Sciences Inc stock price fell by -1.58% on the last day (Wednesday, 22nd May 2024) from $0.190 to $0.187. During the last trading day the stock fluctuated 4.56% from a day low at $0.182 to a day high of $0.190. The price has been going up and down for this period, and there has been a 5.65% gain for the last 2 weeks. Volume has increased on the last day by 32 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 34 thousand shares were bought and sold for approximately $6.40 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 4.49% during the next 3 months and, with a 90% probability hold a price between $0.180 and $0.237 at the end of this 3-month period.
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CNVCF Signals & Forecast
The Bioharvest Sciences 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 $0.187 and $0.186. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 10.00%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Bioharvest Sciences Inc gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Bioharvest Sciences Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.167 and $0.165. 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, Bioharvest Sciences Inc finds support just below today's level at $0.167. If this is broken, then the next support from accumulated volume will be at $0.165 and $0.155.
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 $0.0083 between high and low, or 4.56%. For the last week, the stock has had daily average volatility of 8.30%.
Our recommended stop-loss: $0.181 (-3.04%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 44 days ago.)
Trading Expectations (CNVCF) For The Upcoming Trading Day Of Thursday 23rd
For the upcoming trading day on Thursday, 23rd we expect Bioharvest Sciences Inc to open at $0.186, and during the day (based on 14 day Average True Range), to move between $0.174 and $0.200, which gives a possible trading interval of +/-$0.0133 (+/-7.13%) up or down from last closing price. If Bioharvest Sciences Inc takes out the full calculated possible swing range there will be an estimated 14.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.190 (1.60%) than the support at $0.167 (10.70%), 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 Bioharvest Sciences 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 Bioharvest Sciences Inc stock to perform well in the short-term.
Current score: 1.670 Buy Candidate Unchanged
Predicted Opening Price for Bioharvest Sciences Inc of Thursday, May 23, 2024
| Fair opening price May 23, 2024 | Current price |
|---|---|
| $0.186 ( 0.406%) | $0.187 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CNVCF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.195 | 4.02 % | |
| R2 | 0.191 | 2.33 % | ||
| R1 | 0.189 | 1.29 % | ||
| Current price: | 0.187 | |||
| Support | S1 | 0.183 | -2.10 % | |
| S2 | 0.181 | -3.14 % | ||
| S3 | 0.178 | -4.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.210 | 12.30 % | |
| R2 | 0.195 | 4.17 % | ||
| R1 | 0.190 | 1.60 % | ||
| Current price | 0.187 | |||
| Support | S1 | 0.167 | -10.70% | |
| S2 | 0.165 | -11.76% | ||
| S3 | 0.155 | -17.17% |
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