Nutriband Inc. Stock Forecast
High volatility in Nutriband Inc. stock price on Friday which ended trading at $3.93
(Updated on Apr 19, 2024)
The Nutriband Inc. stock price fell by -2.72% on the last day (Friday, 19th Apr 2024) from $4.04 to $3.93. During the last trading day the stock fluctuated 12.28% from a day low at $3.91 to a day high of $4.39. The price has fallen in 6 of the last 10 days and is down by -14% for this period. Volume has increased on the last day by 2 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 26 thousand shares were bought and sold for approximately $102.31 thousand.
The stock lies in the middle of a very wide and strong 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 55.43% during the next 3 months and, with a 90% probability hold a price between $4.80 and $8.50 at the end of this 3-month period.
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NTRB Signals & Forecast
The Nutriband Inc. 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 $4.13. On a fall, the stock will find some support from the long-term average at approximately $3.39. 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. 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, April 02, 2024, and so far it has fallen -22.33%. 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). Nutriband Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Nutriband Inc. stock
Nutriband Inc. finds support from accumulated volume at $3.91 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.480 between high and low, or 12.28%. For the last week, the stock has had daily average volatility of 12.14%.
Our recommended stop-loss: $3.72 (-5.30%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (NTRB) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Nutriband Inc. to open at $4.08, and during the day (based on 14 day Average True Range), to move between $3.49 and $4.37, which gives a possible trading interval of +/-$0.441 (+/-11.22%) up or down from last closing price. If Nutriband Inc. takes out the full calculated possible swing range there will be an estimated 22.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.91 (0.51%) than the resistance at $4.05 (3.05%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Nutriband Inc. will release earnings BMO on Wednesday, April 24, 2024. We will update the financials statements for Nutriband Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.40% in the first trading day after earnings release.
Is Nutriband Inc. stock A Buy?
Nutriband 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. 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 Hold/Accumulate candidate.
Current score: 0.951 Hold/Accumulate Downgraded
Predicted Opening Price for Nutriband Inc. of Monday, April 22, 2024
Fair opening price April 22, 2024 | Current price |
---|---|
$4.08 ( 3.73%) | $3.93 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NTRB
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 4.56 | 15.95 % | |
R2 | 4.37 | 11.28 % | ||
R1 | 4.26 | 8.40 % | ||
Current price: | 3.93 | |||
Support | S1 | 3.89 | -0.93 % | |
S2 | 3.78 | -3.82 % | ||
S3 | 3.60 | -8.48 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 4.88 | 24.17 % | |
R2 | 4.52 | 15.01 % | ||
R1 | 4.05 | 3.05 % | ||
Current price | 3.93 | |||
Support | S1 | 3.91 | -0.509% | |
S2 | 3.04 | -22.65% | ||
S3 | 0 | . |
FAQ
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