Tenx Keane Acquisition Right 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
A very strong day for Tenx Keane Acquisition Right stock price on Wednesday
(Updated on Jun 26, 2024)
The Tenx Keane Acquisition Right stock price gained 18.75% on the last trading day (Wednesday, 26th Jun 2024), rising from $0.280 to $0.333. During the last trading day the stock fluctuated 3.91% from a day low at $0.320 to a day high of $0.333. The price has been going up and down for this period, and there has been a 27.88% 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, 600 more shares were traded than the day before. In total, 600 shares were bought and sold for approximately $199.50 .
The stock lies in the middle of a very wide and strong 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 26.26% during the next 3 months and, with a 90% probability hold a price between $0.267 and $0.553 at the end of this 3-month period.
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TENKR Signals & Forecast
The Tenx Keane Acquisition Right stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.263 and $0.246. A breakdown below any of these levels will issue sell signals. Tenx Keane Acquisition Right 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. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -14.48%. 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).
Support, Risk & Stop-loss for Tenx Keane Acquisition Right stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.278 and $0.260. 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, Tenx Keane Acquisition Right finds support just below today's level at $0.278. If this is broken, then the next support from accumulated volume will be at $0.260 and $0.250.
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 $0.0125 between high and low, or 3.91%. For the last week, the stock has had daily average volatility of 5.78%.
Our recommended stop-loss: $0.318 (-4.40%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 22 days ago.)
Trading Expectations (TENKR) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Tenx Keane Acquisition Right to open at $0.328, and during the day (based on 14 day Average True Range), to move between $0.300 and $0.365, which gives a possible trading interval of +/-$0.0327 (+/-9.84%) up or down from last closing price. If Tenx Keane Acquisition Right takes out the full calculated possible swing range there will be an estimated 19.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.350 (5.26%) than the support at $0.278 (16.54%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Tenx Keane Acquisition Right stock A Buy?
Tenx Keane Acquisition Right 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
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 Tenx Keane Acquisition Right of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $0.328 ( 1.25%) | $0.333 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TENKR
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.341 | 2.51% |
| R2 | 0.336 | 1.07% |
| R1 | 0.333 | 0.183% |
| Price | 0.333 | |
| S1 | 0.324 | -2.69% |
| S2 | 0.321 | -3.58% |
| S3 | 0.316 | -5.01% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0.389 | 16.93% |
| R1 | 0.350 | 5.26% |
| Price | 0.333 | |
| S1 | 0.278 | -16.54% |
| S2 | 0.260 | -21.80% |
| S3 | 0.250 | -24.81% |
FAQ
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