Nutriband Inc. Stock Forecast
Volatile ride for Nutriband Inc. stock price on Friday moving between $4.79 and $5.58
(Updated on May 24, 2024)
The Nutriband Inc. stock price gained 6.92% on the last trading day (Friday, 24th May 2024), rising from $4.77 to $5.10. During the last trading day the stock fluctuated 16.45% from a day low at $4.79 to a day high of $5.58. The price has risen in 6 of the last 10 days and is up by 51.79% 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, 48 thousand more shares were traded than the day before. In total, 75 thousand shares were bought and sold for approximately $381.15 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 50.80% during the next 3 months and, with a 90% probability hold a price between $5.72 and $9.58 at the end of this 3-month period.
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NTRB Signals & Forecast
Mostly positive signals in the chart today. The Nutriband Inc. 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 $4.82 and $4.02. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, May 07, 2024, and so far it has risen 52.24%. 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). Nutriband Inc. 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. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Nutriband Inc. stock
Nutriband Inc. finds support from accumulated volume at $4.88 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 $0.788 between high and low, or 16.45%. For the last week, the stock has had daily average volatility of 14.38%.
Our recommended stop-loss: $4.92 (-3.48%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 38 days ago.)
Trading Expectations (NTRB) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect Nutriband Inc. to open at $5.15, and during the day (based on 14 day Average True Range), to move between $4.58 and $5.62, which gives a possible trading interval of +/-$0.521 (+/-10.21%) up or down from last closing price. If Nutriband Inc. takes out the full calculated possible swing range there will be an estimated 20.42% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $4.88, some $0.220 (4.31%) from the current price of $5.10, our system finds the risk reward attractive.
Is Nutriband Inc. stock A Buy?
Nutriband Inc. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 7.537 Strong Buy Candidate Upgraded
Predicted Opening Price for Nutriband Inc. of Tuesday, May 28, 2024
| Fair opening price May 28, 2024 | Current price |
|---|---|
| $5.15 ( 1.06%) | $5.10 |
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 | 5.94 | 16.51 % | |
| R2 | 5.64 | 10.61 % | ||
| R1 | 5.46 | 6.96 % | ||
| Current price: | 5.10 | |||
| Support | S1 | 4.85 | -4.84 % | |
| S2 | 4.67 | -8.48 % | ||
| S3 | 4.37 | -14.38 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 5.10 | |||
| Support | S1 | 4.88 | -4.31% | |
| S2 | 4.52 | -11.37% | ||
| S3 | 4.05 | -20.59% |
FAQ
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