Red Light Holland Corp Stock Forecast
High volatility in Red Light Holland Corp stock price on Friday which ended trading at $0.0439
(Updated on May 03, 2024)
The Red Light Holland Corp stock price gained 9.48% on the last trading day (Friday, 3rd May 2024), rising from $0.0401 to $0.0439. During the last trading day the stock fluctuated 11.39% from a day low at $0.0395 to a day high of $0.0440. The price has been going up and down for this period, and there has been a -0.45% loss 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, 33 thousand more shares were traded than the day before. In total, 41 thousand shares were bought and sold for approximately $1.78 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 -2.35% during the next 3 months and, with a 90% probability hold a price between $0.0353 and $0.0465 at the end of this 3-month period.
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TRUFF Signals & Forecast
Mostly positive signals in the chart today. The Red Light Holland Corp stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.0416 and $0.0426. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 11.99%. 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). Red Light Holland Corp 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.
Support, Risk & Stop-loss for Red Light Holland Corp stock
Red Light Holland Corp finds support from accumulated volume at $0.0430 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0045 between high and low, or 11.39%. For the last week, the stock has had daily average volatility of 6.00%.
Our recommended stop-loss: $0.0422 (-3.96%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (TRUFF) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Red Light Holland Corp to open at $0.0425, and during the day (based on 14 day Average True Range), to move between $0.0400 and $0.0478, which gives a possible trading interval of +/-$0.0039 (+/-8.90%) 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 17.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0446 (1.59%) than the support at $0.0430 (2.05%), 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?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.046 Buy Candidate Upgraded
Predicted Opening Price for Red Light Holland Corp of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.0425 ( 3.26%) | $0.0439 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TRUFF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0470 | 6.99 % | |
| R2 | 0.0452 | 3.07 % | ||
| R1 | 0.0442 | 0.651 % | ||
| Current price: | 0.0439 | |||
| Support | S1 | 0.0407 | -7.18 % | |
| S2 | 0.0397 | -9.60 % | ||
| S3 | 0.0380 | -13.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0485 | 10.48 % | |
| R2 | 0.0457 | 4.10 % | ||
| R1 | 0.0446 | 1.59 % | ||
| Current price | 0.0439 | |||
| Support | S1 | 0.0430 | -2.05% | |
| S2 | 0.0425 | -3.19% | ||
| S3 | 0.0400 | -8.88% |
FAQ
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