Red Light Holland Corp Stock Forecast

Weaker technical forecast for Red Light Holland Corp as stock downgraded to Sell Candidate.
(Updated on Apr 25, 2024)

TRUFF Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 6.98%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Red Light Holland Corp 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 $0.0427. On a fall, the stock will find some support from the short-term average at $0.0417. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Red Light Holland Corp stock

Red Light Holland Corp finds support from accumulated volume at $0.0411 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0007 between high and low, or 1.61%. For the last week the stock has had daily average volatility of 6.95%.

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

Trading Expectations (TRUFF) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Red Light Holland Corp to open at $0.0424, and during the day (based on 14 day Average True Range), to move between $0.0377 and $0.0466, which gives a possible trading interval of +/-$0.0045 (+/-10.57%) up or down from last closing price. If Red Light Holland Corp takes out the full calculated possible swing range there will be an estimated 21.14% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0425 (0.83%) than the support at $0.0411 (2.49%), 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 Red Light Holland Corp stock A Buy?

Red Light Holland Corp 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 Buy to a Sell candidate.

Current score: -1.700 Sell Candidate Downgraded

Predicted Opening Price for Red Light Holland Corp of Friday, April 26, 2024

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