SLANG Worldwide Inc. 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
On Friday, SLANG Worldwide Inc. stock price gained an impressive 6.88%
(Updated on May 17, 2024)
The SLANG Worldwide Inc. stock price gained 6.88% on the last trading day (Friday, 17th May 2024), rising from $0.0247 to $0.0264. During the last trading day the stock fluctuated 9.32% from a day low at $0.0242 to a day high of $0.0264. The price has risen in 6 of the last 10 days and is up by 20.55% 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, 115 thousand more shares were traded than the day before. In total, 155 thousand shares were bought and sold for approximately $4.10 thousand.
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 5.35% during the next 3 months and, with a 90% probability hold a price between $0.0217 and $0.0334 at the end of this 3-month period.
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SLGWF Signals & Forecast
Mostly positive signals in the chart today. The SLANG Worldwide Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $0.0279. On a fall, the stock will find some support from the long-term average at approximately $0.0258. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Thursday, May 16, 2024, and so far it has risen 6.88%. 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). SLANG Worldwide 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. 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 Thursday, March 07, 2024 with a target of $0.0250. 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
SLANG Worldwide Inc. finds support from accumulated volume at $0.0260 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 $0.0023 between high and low, or 9.32%. For the last week, the stock has had daily average volatility of 10.50%.
Our recommended stop-loss: $0.0253 (-4.00%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (SLGWF) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect SLANG Worldwide Inc. to open at $0.0257, and during the day (based on 14 day Average True Range), to move between $0.0225 and $0.0303, which gives a possible trading interval of +/-$0.0039 (+/-14.70%) up or down from last closing price. If SLANG Worldwide Inc. takes out the full calculated possible swing range there will be an estimated 29.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0260 (1.52%) than the resistance at $0.0300 (13.64%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
SLANG Worldwide Inc. will release earnings BMO on Wednesday, May 22, 2024. We will update the financials statements for SLANG Worldwide Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 23.63% in the first trading day after earnings release.
Is SLANG Worldwide Inc. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for SLANG Worldwide Inc. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Buy candidate.
Current score: 1.555 Buy Candidate Upgraded
Predicted Opening Price for SLANG Worldwide Inc. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.0257 ( 2.84%) | $0.0264 |
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 | 0.0279 | 5.68 % | |
| R2 | 0.0270 | 2.43 % | ||
| R1 | 0.0265 | 0.415 % | ||
| Current price: | 0.0264 | |||
| Support | S1 | 0.0248 | -6.10 % | |
| S2 | 0.0243 | -8.11 % | ||
| S3 | 0.0234 | -11.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0301 | 14.02 % | |
| R2 | 0.0300 | 13.73 % | ||
| R1 | 0.0300 | 13.64 % | ||
| Current price | 0.0264 | |||
| Support | S1 | 0.0260 | -1.52% | |
| S2 | 0.0223 | -15.53% | ||
| S3 | 0.0220 | -16.67% |
FAQ
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