Italian Food & Beverage Corp. Stock Forecast
Weaker technical forecast for Italian Food & Beverage Corp. as stock downgraded to Sell Candidate.
(Updated on Jun 26, 2024)
No changes to the price of Italian Food & Beverage Corp. stock on the last trading day (Wednesday, 26th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $0.0015 to a day high of $0.0015. The price has been going up and down for this period, and there has been a 0% change 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 -2.51% during the next 3 months and, with a 90% probability hold a price between $0.0009 and $0.0018 at the end of this 3-month period.
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IFBC Signals & Forecast
The Italian Food & Beverage Corp. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.0014 and $0.0014. A breakdown below any of these levels will issue sell signals. 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 Tuesday, June 25, 2024, and so far it has fallen 0%. 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 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 sell signal from a double top formation was found on Wednesday, June 12, 2024 and based on theory for this formation the price should fall by -50.67% to $0.0007 within 5 trading days since signal was issued (Thursday, June 20, 2024).
Support, Risk & Stop-loss for Italian Food & Beverage Corp. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0014 and $0.0013. 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, Italian Food & Beverage Corp. finds support just below today's level at $0.0014. If this is broken, then the next support from accumulated volume will be at $0.0013 and $0.0013.
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 2.86%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (IFBC) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Italian Food & Beverage Corp. to open at $0.0015, and during the day (based on 14 day Average True Range), to move between $0.0014 and $0.0016, which gives a possible trading interval of +/-$0.0001 (+/-9.90%) up or down from last closing price. If Italian Food & Beverage Corp. takes out the full calculated possible swing range there will be an estimated 19.79% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0016 (3.33%) than the support at $0.0014 (6.67%), 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 Italian Food & Beverage Corp. stock A Buy?
Italian Food & Beverage Corp. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, 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 Buy to a Sell candidate.
Current score: -1.366 Sell Candidate Downgraded
Predicted Opening Price for Italian Food & Beverage Corp. of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $0.0015 ( 0.00000000%) | $0.0015 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IFBC
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0015 | 0.00000000% |
| R2 | 0.0015 | 0.00000000% |
| R1 | 0.0015 | 0.00000000% |
| Price | 0.0015 | |
| S1 | 0.0015 | 0.00000000% |
| S2 | 0.0015 | 0.00000000% |
| S3 | 0.0015 | 0.00000000% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0017 | 13.33% |
| R2 | 0.0016 | 6.67% |
| R1 | 0.0016 | 3.33% |
| Price | 0.0015 | |
| S1 | 0.0014 | -6.67% |
| S2 | 0.0013 | -13.33% |
| S3 | 0.0013 | -14.00% |
FAQ
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