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:

Bollinger Bottleneck Buy Pattern 1
Bollinger Bottleneck Buy Pattern 2
Bollinger Bottleneck Sell Pattern

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

RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of GOEVW
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High volatility in Canoo Holdings Ltd. stock price on Thursday which ended trading at $0.0930
(Updated on Mar 28, 2024)

Buy or Hold candidate since Mar 19, 2024 Gain 16.25% PDF

The Canoo Holdings Ltd. stock price gained 14.39% on the last trading day (Thursday, 28th Mar 2024), rising from $0.0813 to $0.0930. During the last trading day the stock fluctuated 22.85% from a day low at $0.0814 to a day high of $0.100. The price has risen in 6 of the last 10 days and is up by 96.62% 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, 63 thousand more shares were traded than the day before. In total, 173 thousand shares were bought and sold for approximately $16.11 thousand.

The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 3.81% during the next 3 months and, with a 90% probability hold a price between $0.0443 and $0.127 at the end of this 3-month period.

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GOEVW Signals & Forecast

The Canoo Holdings Ltd. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $0.0967. On a fall, the stock will find some support from the long-term average at approximately $0.0695. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Canoo Holdings Ltd. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -23.90%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Canoo Holdings Ltd. stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0874 and $0.0805. 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, Canoo Holdings Ltd. finds support just below today's level at $0.0874. If this is broken, then the next support from accumulated volume will be at $0.0805 and $0.0800.

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 $0.0186 between high and low, or 22.85%. For the last week, the stock has had daily average volatility of 32.23%.

Our recommended stop-loss: $0.0876 (-5.80%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 5 days ago.)

Trading Expectations (GOEVW) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Canoo Holdings Ltd. to open at $0.0915, and during the day (based on 14 day Average True Range), to move between $0.0663 and $0.120, which gives a possible trading interval of +/-$0.0267 (+/-28.70%) up or down from last closing price. If Canoo Holdings Ltd. takes out the full calculated possible swing range there will be an estimated 57.40% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0950 (2.15%) than the support at $0.0874 (6.02%), 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 Canoo Holdings Ltd. stock A Buy?

Canoo Holdings Ltd. 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: 0.590 Hold/Accumulate Unchanged

Predicted Opening Price for Canoo Holdings Ltd. of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
$0.0915 ( 1.65%) $0.0930

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for GOEVW

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 0.110 18.35 %
R2 0.103 10.71 %
R1 0.0986 5.99 %
Current price: 0.0930
Support S1 0.0844 -9.29 %
S2 0.0800 -14.01 %
S3 0.0729 -21.65 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0.110 18.28 %
R2 0.100 7.53 %
R1 0.0950 2.15 %
Current price 0.0930
Support S1 0.0874 -6.02%
S2 0.0805 -13.44%
S3 0.0800 -13.98%

FAQ

What is the symbol for Canoo Holdings Ltd. Stock and on which exchange is it traded?
The symbol for Canoo Holdings Ltd. is GOEVW and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Canoo Holdings Ltd. Stock?
Canoo Holdings Ltd. 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.

How to buy Canoo Holdings Ltd. Stock?
Canoo Holdings Ltd. Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Canoo Holdings Ltd. Stock.

What's the current price of Canoo Holdings Ltd. Stock?
As of the end of day on the 2024-03-28, the price of an Canoo Holdings Ltd. (GOEVW) share was $0.0930.

What is the 52-week high and low for Canoo Holdings Ltd. Stock?
The 52-week high for Canoo Holdings Ltd. Stock is $0.170 and the 52-week low is $0.0400.

What is the market capitalization of Canoo Holdings Ltd. Stock?
As of the 2024-03-28, the market capitalization of Canoo Holdings Ltd. is 193.366M.
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