88 Energy Limited 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
Green day on Tuesday for 88 Energy Limited
(Updated on Sep 01, 2020)
The 88 Energy Limited stock price gained 3.70% on the last trading day (Tuesday, 1st Sep 2020), rising from £0.0027 to £0.0028. During the last trading day the stock fluctuated 0% from a day low at £0.0028 to a day high of £0.0028. The price has risen in 4 of the last 10 days. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 8 million more shares were traded than the day before. In total, 14 million shares were bought and sold for approximately £38.08 thousand.
The stock lies in the middle of a narrow 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 10.94% during the next 3 months and, with a 90% probability hold a price between £0.0031 and £0.0032 at the end of this 3-month period.
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88E.L Signals & Forecast
There are mixed signals in the stock today. The 88 Energy Limited 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 £0.0046. On a fall, the stock will find some support from the short-term average at £0.0027. 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 Tuesday, November 30, -1. 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). 88 Energy Limited 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 88 Energy Limited stock
88 Energy Limited finds support from accumulated volume at £0.0027 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved £0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%.
Our recommended stop-loss: £0 (-5.00%) (Unable to calculate.)
Trading Expectations (88E.L) For The Upcoming Trading Day Of Wednesday 2nd
With no resistance above and support from accumulated volume @ £0.0027, some £0.0001 (3.57%) from the current price of £0.0028, our system finds the risk reward attractive.
Is 88 Energy Limited stock A Buy?
88 Energy Limited 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.
Current score: 0.000 Hold/Accumulate Unchanged
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 88 Energy Limited of Wednesday, September 2, 2020
| Fair opening price September 2, 2020 | Current price |
|---|---|
| £0.0028 ( 0%) | £0.0028 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 88E.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0028 | . | |
| R2 | 0.0028 | . | ||
| R1 | 0.0028 | . | ||
| Current price: | 0.0028 | |||
| Support | S1 | 0.0028 | . | |
| S2 | 0.0028 | . | ||
| S3 | 0.0028 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.0028 | |||
| Support | S1 | 0.0027 | -3.57% | |
| S2 | 0.0026 | -7.14% | ||
| S3 | 0.0025 | -10.71% |
FAQ
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