4Front Ventures Corp. Stock Forecast
Volatile ride for 4Front Ventures Corp. stock price on Thursday moving between $0.106 and $0.140
(Updated on May 16, 2024)
The 4Front Ventures Corp. stock price gained 13.03% on the last trading day (Thursday, 16th May 2024), rising from $0.116 to $0.131. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 32.20% from a day low at $0.106 to a day high of $0.140. The price has risen in 7 of the last 10 days and is up by 48.19% 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, 483 thousand more shares were traded than the day before. In total, 584 thousand shares were bought and sold for approximately $76.48 thousand.
The stock has broken the very wide and weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $0.124, a level that may pose a second chance to hit a runner. According to fan-theory $0.171 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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FFNTF Signals & Forecast
The 4Front Ventures Corp. 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 $0.105 and $0.0987. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, May 07, 2024, and so far it has risen 59.76%. 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). 4Front Ventures Corp. 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.
Support, Risk & Stop-loss for 4Front Ventures Corp. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.122 and $0.110. 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, 4Front Ventures Corp. finds support just below today's level at $0.122. If this is broken, then the next support from accumulated volume will be at $0.110 and $0.100.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0341 between high and low, or 32.20%. For the last week, the stock has had daily average volatility of 22.79%.
Our recommended stop-loss: $0.126 (-3.76%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (FFNTF) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect 4Front Ventures Corp. to open at $0.126, and during the day (based on 14 day Average True Range), to move between $0.112 and $0.150, which gives a possible trading interval of +/-$0.0195 (+/-14.86%) up or down from last closing price. If 4Front Ventures Corp. takes out the full calculated possible swing range there will be an estimated 29.72% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.122, some $0.0087 (6.64%) from the current price of $0.131, our system finds the risk reward attractive.
Is 4Front Ventures Corp. stock A Buy?
4Front Ventures Corp. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for 4Front Ventures Corp. of Friday, May 17, 2024
Fair opening price May 17, 2024 | Current price |
---|---|
$0.126 ( 4.10%) | $0.131 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FFNTF
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.160 | 21.93 % | |
R2 | 0.147 | 11.99 % | ||
R1 | 0.139 | 5.85 % | ||
Current price: | 0.131 | |||
Support | S1 | 0.113 | -14.04 % | |
S2 | 0.105 | -20.18 % | ||
S3 | 0.0915 | -30.13 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 0.131 | |||
Support | S1 | 0.122 | -6.64% | |
S2 | 0.110 | -15.88% | ||
S3 | 0.100 | -23.66% |
FAQ
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