SLANG Worldwide Inc. Stock Forecast

Stronger technical forecast for SLANG Worldwide Inc. stock price after Wednesday trading.
(Updated on May 08, 2024)

SLNG.CN Signals & Forecast

There are mixed signals in the stock today. 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 $0.0329 and $0.0353. A break-up above any of these levels will issue buy signals. 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 was issued from a pivot bottom point on Monday, May 06, 2024, and so far it has fallen 0%. 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).

Buy

Special Signal Notification

Double Bottom Formation

Support, Risk & Stop-loss for SLANG Worldwide Inc. stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

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 5.71%

Our recommended stop-loss: $0.0282 (-6.00%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)

Trading Expectations (SLNG.CN) For The Upcoming Trading Day Of Thursday 9th

For the upcoming trading day on Thursday, 9th we expect SLANG Worldwide Inc. to open at $0.0300, and during the day (based on 14 day Average True Range), to move between $0.0263 and $0.0337, which gives a possible trading interval of +/-$0.0037 (+/-12.48%) up or down from last closing price. If SLANG Worldwide Inc. takes out the full calculated possible swing range there will be an estimated 24.96% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $0.0350, some $0.0050 (16.67%) from the current price of $0.0300, our system finds the risk reward not very attractive.

Is SLANG Worldwide Inc. stock A Buy?

SLANG Worldwide 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Upgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for SLANG Worldwide Inc. of Thursday, May 9, 2024

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