Forwardly Inc Stock Forecast
Big movements in Forwardly Inc stock price on Friday moving 11.30% between high and low
(Updated on May 17, 2024)
The Forwardly Inc stock price gained 5.21% on the last trading day (Friday, 17th May 2024), rising from $0.0119 to $0.0125. During the last trading day the stock fluctuated 11.30% from a day low at $0.0115 to a day high of $0.0128. The price has fallen in 6 of the last 10 days and is down by -13.66% for this period. Volume fell on the last day by -168 thousand shares and in total, 169 thousand shares were bought and sold for approximately $2.12 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 $0.0108 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 14.87% during the next 3 months and, with a 90% probability hold a price between $0.0124 and $0.0256 at the end of this 3-month period.
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FORW Signals & Forecast
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. 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 $0.0132 and $0.0149. 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 -25.48%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. 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 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 $0.0013 between high and low, or 11.30%. For the last week the stock has had daily average volatility of 28.62%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FORW) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Forwardly Inc to open at $0.0123, and during the day (based on 14 day Average True Range), to move between $0.0096 and $0.0154, which gives a possible trading interval of +/-$0.0029 (+/-23.31%) up or down from last closing price. If Forwardly Inc takes out the full calculated possible swing range there will be an estimated 46.62% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0126 (0.64%) than the support at $0.0121 (3.35%), 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 Forwardly Inc stock A Buy?
The Forwardly Inc stock holds several negative signals and despite the positive trend, we believe Forwardly Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.040 Sell Candidate Downgraded
Predicted Opening Price for Forwardly Inc of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.0123 ( 1.97%) | $0.0125 |
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 | 0.0136 | 8.41 % | |
| R2 | 0.0131 | 4.45 % | ||
| R1 | 0.0128 | 2.00 % | ||
| Current price: | 0.0125 | |||
| Support | S1 | 0.0118 | -5.94 % | |
| S2 | 0.0115 | -8.39 % | ||
| S3 | 0.0110 | -12.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0138 | 10.22 % | |
| R2 | 0.0133 | 6.23 % | ||
| R1 | 0.0126 | 0.639 % | ||
| Current price | 0.0125 | |||
| Support | S1 | 0.0121 | -3.35% | |
| S2 | 0.0100 | -20.13% | ||
| S3 | 0.0095 | -24.12% |
FAQ
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