Supernova Energy, Inc. Stock Forecast

High volatility in Supernova Energy, Inc. stock price on Wednesday which ended trading at $0.0026
(Updated on May 15, 2024)

SPRN Signals & Forecast

There are few to no technical positive signals at the moment. The Supernova Energy, 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 $0.0038 and $0.0040. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 03, 2024, and so far it has fallen -48.00%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Supernova Energy, 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 Supernova Energy, 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.

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 $0.0016 between high and low, or 61.54%. For the last week, the stock has had daily average volatility of 22.31%.

Supernova Energy, Inc. is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

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

Trading Expectations (SPRN) For The Upcoming Trading Day Of Thursday 16th

For the upcoming trading day on Thursday, 16th we expect Supernova Energy, Inc. to open at $0.0031, and during the day (based on 14 day Average True Range), to move between $0.0022 and $0.0030, which gives a possible trading interval of +/-$0.0004 (+/-16.40%) up or down from last closing price. If Supernova Energy, Inc. takes out the full calculated possible swing range there will be an estimated 32.80% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $0.0028, some $0.0002 (7.69%) from the current price of $0.0026, our system finds the risk reward not very attractive.

Is Supernova Energy, Inc. stock A Buy?

The Supernova Energy, Inc. stock holds several negative signals and despite the positive trend, we believe Supernova Energy, Inc. will perform weakly in the next couple of days or weeks. Therefore, we 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: -4.025 Sell Candidate Downgraded

Predicted Opening Price for Supernova Energy, Inc. of Thursday, May 16, 2024

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