Reborn Coffee, Inc. Stock Forecast
Weaker technical forecast for Reborn Coffee, Inc. as stock downgraded to Hold/Accumulate.
(Updated on May 01, 2024)
The Reborn Coffee, Inc. stock price gained 1.77% on the last trading day (Wednesday, 1st May 2024), rising from $1.42 to $1.44. 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 5.67% from a day low at $1.41 to a day high of $1.49. The price has been going up and down for this period, and there has been a 9.92% gain for the last 2 weeks. Volume fell on the last day by -56 thousand shares and in total, 5 thousand shares were bought and sold for approximately $7.40 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $1.42, a level that may pose a second chance to hit a runner. According to fan-theory $2.50 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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REBN Signals & Forecast
The Reborn Coffee, 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 $1.41 and $1.22. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Thursday, April 18, 2024, and so far it has fallen -10.56%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Reborn Coffee, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.25 and $1.24. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Reborn Coffee, Inc. finds support just below today's level at $1.25. If this is broken, then the next support from accumulated volume will be at $1.24 and $1.22.
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 $0.0800 between high and low, or 5.67%. For the last week the stock has had daily average volatility of 7.86%.
Our recommended stop-loss: $1.36 (-5.36%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (REBN) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Reborn Coffee, Inc. to open at $1.45, and during the day (based on 14 day Average True Range), to move between $1.27 and $1.61, which gives a possible trading interval of +/-$0.173 (+/-12.02%) up or down from last closing price. If Reborn Coffee, Inc. takes out the full calculated possible swing range there will be an estimated 24.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.52 (5.56%) than the support at $1.25 (13.19%), 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
Reborn Coffee, Inc. will release earnings BMO on Thursday, May 09, 2024. We will update the financials statements for Reborn Coffee, Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 15.33% in the first trading day after earnings release.
Is Reborn Coffee, Inc. stock A Buy?
Reborn Coffee, Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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: 0.112 Hold/Accumulate Downgraded
Predicted Opening Price for Reborn Coffee, Inc. of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $1.45 ( 0.463%) | $1.44 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for REBN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.53 | 6.02 % | |
| R2 | 1.50 | 3.90 % | ||
| R1 | 1.48 | 2.59 % | ||
| Current price: | 1.44 | |||
| Support | S1 | 1.42 | -1.66 % | |
| S2 | 1.40 | -2.97 % | ||
| S3 | 1.37 | -5.09 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.61 | 11.81 % | |
| R2 | 1.53 | 6.25 % | ||
| R1 | 1.52 | 5.56 % | ||
| Current price | 1.44 | |||
| Support | S1 | 1.25 | -13.19% | |
| S2 | 1.24 | -13.89% | ||
| S3 | 1.22 | -15.63% |
FAQ
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