Forwardly Inc Stock Forecast
Big movements in Forwardly Inc stock price on Wednesday moving 15.08% between high and low
(Updated on May 08, 2024)
The Forwardly Inc stock price fell by -0.787% on the last day (Wednesday, 8th May 2024) from $0.0127 to $0.0126. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 15.08% from a day low at $0.0126 to a day high of $0.0145. The price has fallen in 7 of the last 10 days and is down by -14.86% for this period. Volume has increased on the last day by 81 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, 93 thousand shares were bought and sold for approximately $1.17 thousand.
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 $0.0105 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 14.65% during the next 3 months and, with a 90% probability hold a price between $0.0120 and $0.0251 at the end of this 3-month period.
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FORW Signals & Forecast
There are few to no technical positive signals at the moment. The Forwardly 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 $0.0133 and $0.0144. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 26, 2024, and so far it has fallen -25.00%. 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). Forwardly 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 Forwardly Inc stock
Forwardly Inc finds support from accumulated volume at $0.0121 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 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 $0.0019 between high and low, or 15.08%. For the last week, the stock has had daily average volatility of 17.26%.
Our recommended stop-loss: $0.0120 (-5.04%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (FORW) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Forwardly Inc to open at $0.0132, and during the day (based on 14 day Average True Range), to move between $0.0097 and $0.0155, which gives a possible trading interval of +/-$0.0029 (+/-23.18%) up or down from last closing price. If Forwardly Inc takes out the full calculated possible swing range there will be an estimated 46.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0121 (3.97%) than the resistance at $0.0133 (5.56%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Forwardly Inc stock A Buy?
Forwardly Inc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.589 Hold/Accumulate Unchanged
Predicted Opening Price for Forwardly Inc of Thursday, May 9, 2024
Fair opening price May 9, 2024 | Current price |
---|---|
$0.0132 ( 5.03%) | $0.0126 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FORW
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0151 | 20.11 % | |
R2 | 0.0144 | 14.35 % | ||
R1 | 0.0140 | 10.79 % | ||
Current price: | 0.0126 | |||
Support | S1 | 0.0125 | -0.734 % | |
S2 | 0.0121 | -4.29 % | ||
S3 | 0.0113 | -10.05 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0145 | 14.76 % | |
R2 | 0.0140 | 11.11 % | ||
R1 | 0.0133 | 5.56 % | ||
Current price | 0.0126 | |||
Support | S1 | 0.0121 | -3.97% | |
S2 | 0.0100 | -20.63% | ||
S3 | 0.0095 | -24.60% |
FAQ
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