Sona Nanotech 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
Big movements in Sona Nanotech Inc. stock price on Friday moving 15.91% between high and low
(Updated on May 17, 2024)
The Sona Nanotech Inc. stock price gained 10.58% on the last trading day (Friday, 17th May 2024), rising from $0.231 to $0.255. During the last trading day the stock fluctuated 15.91% from a day low at $0.220 to a day high of $0.255. The price has been going up and down for this period, and there has been a 6.92% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 12 thousand more shares were traded than the day before. In total, 16 thousand shares were bought and sold for approximately $4.20 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -2.63% during the next 3 months and, with a 90% probability hold a price between $0.189 and $0.360 at the end of this 3-month period.
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SNANF Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Sona Nanotech 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Sona Nanotech Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.279. On a fall, the stock will find some support from the short-term average at $0.239. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, March 18, 2024, and so far it has fallen -32.27%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Sona Nanotech Inc. stock
Sona Nanotech Inc. finds support from accumulated volume at $0.245 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0350 between high and low, or 15.91%. For the last week, the stock has had daily average volatility of 3.89%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SNANF) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Sona Nanotech Inc. to open at $0.243, and during the day (based on 14 day Average True Range), to move between $0.244 and $0.266, which gives a possible trading interval of +/-$0.0106 (+/-4.16%) up or down from last closing price. If Sona Nanotech Inc. takes out the full calculated possible swing range there will be an estimated 8.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.245 (3.88%) than the resistance at $0.287 (12.35%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sona Nanotech Inc. stock A Buy?
Sona Nanotech Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.693 Sell Candidate Downgraded
Predicted Opening Price for Sona Nanotech Inc. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.243 ( 4.58%) | $0.255 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SNANF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.278 | 9.15 % | |
| R2 | 0.265 | 3.91 % | ||
| R1 | 0.257 | 0.668 % | ||
| Current price: | 0.255 | |||
| Support | S1 | 0.230 | -9.82 % | |
| S2 | 0.222 | -13.06 % | ||
| S3 | 0.208 | -18.30 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.310 | 21.65 % | |
| R2 | 0.300 | 17.65 % | ||
| R1 | 0.287 | 12.35 % | ||
| Current price | 0.255 | |||
| Support | S1 | 0.245 | -3.88% | |
| S2 | 0.238 | -6.53% | ||
| S3 | 0.231 | -9.41% |
FAQ
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