Labor Smart, 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
High volatility in Labor Smart, Inc. stock price on Monday which ended trading at $0.0036
(Updated on May 13, 2024)
The Labor Smart, Inc. stock price fell by -5.26% on the last day (Monday, 13th May 2024) from $0.0038 to $0.0036. It has now fallen 7 days in a row. During the last trading day the stock fluctuated 17.65% from a day low at $0.0034 to a day high of $0.0040. The price has fallen in 9 of the last 10 days and is down by -40% 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 -11 million shares and in total, 18 million shares were bought and sold for approximately $64.47 thousand.
Given the current short-term trend, the stock is expected to rise 72.67% during the next 3 months and, with a 90% probability hold a price between $0.0062 and $0.0212 at the end of this 3-month period.
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LTNC Signals & Forecast
There are few to no technical positive signals at the moment. The Labor Smart, 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 $0.0042 and $0.0063. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -65.38%. 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 Labor Smart, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0030. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0006 between high and low, or 17.65%. For the last week the stock has had daily average volatility of 20.22%.
Labor Smart, Inc. is oversold on RSI14 (19). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: $0.0034 (-6.62%) (This stock has very high daily movements and this gives very high risk. Low RSI14 is 19 which reduces the risk some. There is a sell signal from a pivot top found 22 days ago.)
Trading Expectations (LTNC) For The Upcoming Trading Day Of Tuesday 14th
For the upcoming trading day on Tuesday, 14th we expect Labor Smart, Inc. to open at $0.0037, and during the day (based on 14 day Average True Range), to move between $0.0023 and $0.0049, which gives a possible trading interval of +/-$0.0013 (+/-37.20%) up or down from last closing price. If Labor Smart, Inc. takes out the full calculated possible swing range there will be an estimated 74.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0038 (5.56%) than the support at $0.0030 (16.67%), 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 Labor Smart, Inc. stock A Buy?
Labor Smart, Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.938 Hold/Accumulate Upgraded
Predicted Opening Price for Labor Smart, Inc. of Tuesday, May 14, 2024
| Fair opening price May 14, 2024 | Current price |
|---|---|
| $0.0037 ( 1.85%) | $0.0036 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LTNC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0043 | 18.52 % | |
| R2 | 0.0040 | 12.15 % | ||
| R1 | 0.0039 | 8.22 % | ||
| Current price: | 0.0036 | |||
| Support | S1 | 0.0034 | -4.51 % | |
| S2 | 0.0033 | -8.45 % | ||
| S3 | 0.0031 | -14.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0042 | 16.67 % | |
| R2 | 0.0040 | 11.11 % | ||
| R1 | 0.0038 | 5.56 % | ||
| Current price | 0.0036 | |||
| Support | S1 | 0.0030 | -16.67% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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