Fortune Bay Stock Forecast
Fortune Bay stock price down 0% on Tuesday
(Updated on Jun 18, 2024)
No changes to the price of Fortune Bay stock on the last trading day (Tuesday, 18th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $0.164 to a day high of $0.164. The price has been going up and down for this period, and there has been a -3.26% loss for the last 2 weeks.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -5.91% during the next 3 months and, with a 90% probability hold a price between $0.120 and $0.239 at the end of this 3-month period.
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FTBYF Signals & Forecast
There are mixed signals in the stock today. The Fortune Bay 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 $0.164 and $0.189. A break-up above any of these levels will issue buy signals. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Monday, June 10, 2024, and so far it has fallen 0%. 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).
Support, Risk & Stop-loss for Fortune Bay stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.156 and $0.150. 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, Fortune Bay finds support just below today's level at $0.156. If this is broken, then the next support from accumulated volume will be at $0.150 and $0.142.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%
Our recommended stop-loss: $0.154 (-6.50%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 32 days ago.)
Trading Expectations (FTBYF) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Fortune Bay to open at $0.164, and during the day (based on 14 day Average True Range), to move between $0.159 and $0.170, which gives a possible trading interval of +/-$0.0056 (+/-3.41%) up or down from last closing price. If Fortune Bay takes out the full calculated possible swing range there will be an estimated 6.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.170 (3.37%) than the support at $0.156 (5.27%), 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 Fortune Bay stock A Buy?
Fortune Bay 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.
Current score: 0.000 Hold/Accumulate Unchanged
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 Fortune Bay of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| $0.164 ( 0%) | $0.164 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FTBYF
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.164 | - |
| R2 | 0.164 | - |
| R1 | 0.164 | - |
| Price | 0.164 | |
| S1 | 0.164 | - |
| S2 | 0.164 | - |
| S3 | 0.164 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.194 | 18.25% |
| R2 | 0.190 | 15.54% |
| R1 | 0.170 | 3.37% |
| Price | 0.164 | |
| S1 | 0.156 | -5.27% |
| S2 | 0.150 | -9.03% |
| S3 | 0.142 | -13.65% |
FAQ
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