SLANG Worldwide Inc. Stock Forecast
SLANG Worldwide Inc. stock price ended at $0.0245 on Tuesday, after losing 0%.
(Updated on May 07, 2024)
No changes to the price of SLANG Worldwide Inc. stock on the last trading day (Tuesday, 7th May 2024). During the last trading day the stock fluctuated 0% from a day low at $0.0245 to a day high of $0.0245. The price has been going up and down for this period, and there has been a 16.78% gain for the last 2 weeks.
The stock lies in the middle of a very wide and weak 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 2.04% during the next 3 months and, with a 90% probability hold a price between $0.0206 and $0.0318 at the end of this 3-month period.
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SLGWF 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 SLANG Worldwide 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 $0.0249 and $0.0258. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Tuesday, March 19, 2024 with a target of $0.0240. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for SLANG Worldwide Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0230 and $0.0223. 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, SLANG Worldwide Inc. finds support just below today's level at $0.0230. If this is broken, then the next support from accumulated volume will be at $0.0223 and $0.0220.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 27.19%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SLGWF) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect SLANG Worldwide Inc. to open at $0.0245, and during the day (based on 14 day Average True Range), to move between $0.0203 and $0.0287, which gives a possible trading interval of +/-$0.0042 (+/-17.14%) up or down from last closing price. If SLANG Worldwide Inc. takes out the full calculated possible swing range there will be an estimated 34.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0230 (6.21%) than the resistance at $0.0300 (22.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is SLANG Worldwide Inc. stock A Buy?
The SLANG Worldwide Inc. stock holds several negative signals and despite the positive trend, we believe SLANG Worldwide Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.884 Sell Candidate Unchanged
Predicted Opening Price for SLANG Worldwide Inc. of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $0.0245 ( 0%) | $0.0245 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SLGWF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0245 | . | |
| R2 | 0.0245 | . | ||
| R1 | 0.0245 | . | ||
| Current price: | 0.0245 | |||
| Support | S1 | 0.0245 | . | |
| S2 | 0.0245 | . | ||
| S3 | 0.0245 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0301 | 22.74 % | |
| R2 | 0.0300 | 22.44 % | ||
| R1 | 0.0300 | 22.33 % | ||
| Current price | 0.0245 | |||
| Support | S1 | 0.0230 | -6.21% | |
| S2 | 0.0223 | -9.06% | ||
| S3 | 0.0220 | -10.29% |
FAQ
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