Majic Wheels Corp. 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
Majic Wheels Corp. stock downgraded from Buy Candidate to Sell Candidate after Friday trading session.
(Updated on May 17, 2024)
No changes to the price of Majic Wheels Corp. stock on the last trading day (Friday, 17th May 2024). During the last trading day the stock fluctuated 0% from a day low at $0.0003 to a day high of $0.0003. 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 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 2.68% during the next 3 months and, with a 90% probability hold a price between $0.00000705 and $0.0004 at the end of this 3-month period.
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MJWL Signals & Forecast
There are mixed signals in the stock today. The Majic Wheels Corp. 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 $0.0003 and $0.0003. 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, April 15, 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).
A sell signal from a double top formation was found on Friday, April 12, 2024 and based on theory for this formation the price should fall by -33.33% to $0.0002 within 4 trading days since signal was issued (Monday, May 20, 2024).
Support, Risk & Stop-loss for Majic Wheels Corp. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MJWL) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Majic Wheels Corp. to open at $0.0003, and during the day (based on 14 day Average True Range), to move between $0.0003 and $0.0003, which gives a possible trading interval of +/-$0.00001863 (+/-6.21%) up or down from last closing price. If Majic Wheels Corp. takes out the full calculated possible swing range there will be an estimated 12.42% move between the lowest and the highest trading price during the day.
Is Majic Wheels Corp. stock A Buy?
Majic Wheels 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: -3.324 Sell Candidate Downgraded
Predicted Opening Price for Majic Wheels Corp. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.0003 ( 0%) | $0.0003 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MJWL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0003 | . | |
| R2 | 0.0003 | . | ||
| R1 | 0.0003 | . | ||
| Current price: | 0.0003 | |||
| Support | S1 | 0.0003 | . | |
| S2 | 0.0003 | . | ||
| S3 | 0.0003 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.0003 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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