Forwardly 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
Forwardly Inc stock price fell more than -7.56% Friday closing at $0.0110
(Updated on May 31, 2024)
The Forwardly Inc stock price fell by -7.56% on the last day (Friday, 31st May 2024) from $0.0119 to $0.0110. During the last trading day the stock fluctuated 7.68% from a day low at $0.0110 to a day high of $0.0118. The price has risen in 6 of the last 10 days but is still down by -7.56% for this period. 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 -225 thousand shares and in total, 102 thousand shares were bought and sold for approximately $1.12 thousand.
The stock has broken the very wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $0.0127. A reaction back to this level may hold a second chance to get out before further falls.
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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 $0.0119 and $0.0137. 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 -34.52%. 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 Forwardly Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0100 and $0.0095. 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, Forwardly Inc finds support just below today's level at $0.0100. If this is broken, then the next support from accumulated volume will be at $0.0095 and $0.0088.
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 $0.0008 between high and low, or 7.68%. For the last week the stock has had daily average volatility of 11.90%.
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 3rd
For the upcoming trading day on Monday, 3rd we expect Forwardly Inc to open at $0.0113, and during the day (based on 14 day Average True Range), to move between $0.0089 and $0.0131, which gives a possible trading interval of +/-$0.0021 (+/-19.31%) up or down from last closing price. If Forwardly Inc takes out the full calculated possible swing range there will be an estimated 38.62% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0119 (8.18%) than the support at $0.0100 (9.09%), 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.221 Sell Candidate Upgraded
Predicted Opening Price for Forwardly Inc of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| $0.0113 ( 2.56%) | $0.0110 |
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 | 0.0121 | 10.24 % | |
| R2 | 0.0118 | 7.31 % | ||
| R1 | 0.0116 | 5.50 % | ||
| Current price: | 0.0110 | |||
| Support | S1 | 0.0110 | -0.374 % | |
| S2 | 0.0108 | -2.19 % | ||
| S3 | 0.0104 | -5.12 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0133 | 20.91 % | |
| R2 | 0.0124 | 12.73 % | ||
| R1 | 0.0119 | 8.18 % | ||
| Current price | 0.0110 | |||
| Support | S1 | 0.0100 | -9.09% | |
| S2 | 0.0095 | -13.64% | ||
| S3 | 0.0088 | -20.00% |
FAQ
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