Right On Brands, Inc. Stock Forecast

High volatility in Right On Brands, Inc. stock price on Thursday which ended trading at $0.0468
(Updated on May 09, 2024)

RTON Signals & Forecast

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. The Right On Brands, Inc. 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 $0.0475 and $0.0527. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, February 29, 2024, and so far it has fallen -49.68%. Further fall is indicated until a new bottom pivot has been found. Right On Brands, 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". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Right On Brands, Inc. stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0439 and $0.0400. 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, Right On Brands, Inc. finds support just below today's level at $0.0439. If this is broken, then the next support from accumulated volume will be at $0.0400 and $0.0382.

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 $0.0120 between high and low, or 28.57%. For the last week, the stock has had daily average volatility of 27.66%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (RTON) For The Upcoming Trading Day Of Friday 10th

For the upcoming trading day on Friday, 10th we expect Right On Brands, Inc. to open at $0.0476, and during the day (based on 14 day Average True Range), to move between $0.0324 and $0.0612, which gives a possible trading interval of +/-$0.0144 (+/-30.87%) up or down from last closing price. If Right On Brands, Inc. takes out the full calculated possible swing range there will be an estimated 61.73% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0470 (0.35%) than the support at $0.0439 (6.20%), 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.

Is Right On Brands, Inc. stock A Buy?

The Right On Brands, Inc. stock holds several negative signals and despite the positive trend, we believe Right On Brands, Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -4.425 Sell Candidate Unchanged

Predicted Opening Price for Right On Brands, Inc. of Friday, May 10, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.