Protagenic Therapeutics, Inc. Common 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
Protagenic Therapeutics, Inc. Common stock price ended at $1.35 on Friday, after gaining 4.28%.
(Updated on May 10, 2024)
The Protagenic Therapeutics, Inc. Common stock price gained 4.28% on the last trading day (Friday, 10th May 2024), rising from $1.29 to $1.35. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.91% from a day low at $1.32 to a day high of $1.35. The price has been going up and down for this period, and there has been a -2.87% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 161 more shares were traded than the day before. In total, 870 shares were bought and sold for approximately $1.17 thousand.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $1.25 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 35.75% during the next 3 months and, with a 90% probability hold a price between $1.69 and $2.85 at the end of this 3-month period.
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PTIX Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Protagenic Therapeutics, Inc. Common 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. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Protagenic Therapeutics, Inc. Common stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $1.49. On a fall, the stock will find some support from the short-term average at $1.29. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -26.09%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Protagenic Therapeutics, Inc. Common stock
Protagenic Therapeutics, Inc. Common finds support from accumulated volume at $1.30 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0252 between high and low, or 1.91%. For the last week, the stock has had daily average volatility of 4.20%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PTIX) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Protagenic Therapeutics, Inc. Common Stock to open at $1.34, and during the day (based on 14 day Average True Range), to move between $1.20 and $1.49, which gives a possible trading interval of +/-$0.145 (+/-10.76%) up or down from last closing price. If Protagenic Therapeutics, Inc. Common Stock takes out the full calculated possible swing range there will be an estimated 21.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.35 (0.36%) than the support at $1.30 (3.73%), 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.
Earnings coming up
Protagenic Therapeutics, Inc. Common Stock will release earnings BMO on Wednesday, May 15, 2024. We will update the financials statements for Protagenic Therapeutics, Inc. Common Stock, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.48% in the first trading day after earnings release.
Is Protagenic Therapeutics, Inc. Common Stock stock A Buy?
Protagenic Therapeutics, Inc. Common 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.
Current score: -3.406 Sell Candidate Unchanged
Predicted Opening Price for Protagenic Therapeutics, Inc. Common Stock of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $1.34 ( 0.624%) | $1.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PTIX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.36 | 1.25 % | |
| R2 | 1.35 | 0.533 % | ||
| R1 | 1.35 | 0.0912 % | ||
| Current price: | 1.35 | |||
| Support | S1 | 1.33 | -1.34 % | |
| S2 | 1.32 | -1.78 % | ||
| S3 | 1.31 | -2.50 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.61 | 19.68 % | |
| R2 | 1.57 | 16.71 % | ||
| R1 | 1.35 | 0.357 % | ||
| Current price | 1.35 | |||
| Support | S1 | 1.30 | -3.73% | |
| S2 | 1.16 | -13.77% | ||
| S3 | 1.10 | -18.23% |
FAQ
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