Burcon NutraScience Corporation Stock Forecast
Burcon NutraScience Corporation stock price ended at $0.240 on Wednesday, after gaining 2.13%.
(Updated on Apr 24, 2024)
The Burcon NutraScience Corporation stock price gained 2.13% on the last trading day (Wednesday, 24th Apr 2024), rising from $0.235 to $0.240. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.13% from a day low at $0.235 to a day high of $0.240. The price has risen in 5 of the last 10 days but is still down by -4% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 66 thousand more shares were traded than the day before. In total, 100 thousand shares were bought and sold for approximately $24.06 thousand.
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 29.43% during the next 3 months and, with a 90% probability hold a price between $0.264 and $0.475 at the end of this 3-month period.
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BU.TO Signals & Forecast
There are mixed signals in the stock today. The Burcon NutraScience Corporation 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 $0.246. On a fall, the stock will find some support from the short-term average at $0.224. 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, March 26, 2024, and so far it has fallen -29.41%. 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). Burcon NutraScience Corporation 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 Burcon NutraScience Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.220 and $0.200. 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, Burcon NutraScience Corporation finds support just below today's level at $0.220. If this is broken, then the next support from accumulated volume will be at $0.200 and $0.190.
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 $0.0050 between high and low, or 2.13%. For the last week, the stock has had daily average volatility of 9.88%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BU.TO) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Burcon NutraScience Corporation to open at $0.238, and during the day (based on 14 day Average True Range), to move between $0.220 and $0.260, which gives a possible trading interval of +/-$0.0198 (+/-8.23%) up or down from last closing price. If Burcon NutraScience Corporation takes out the full calculated possible swing range there will be an estimated 16.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.220 (8.33%) than the resistance at $0.275 (14.58%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Burcon NutraScience Corporation stock A Buy?
Burcon NutraScience Corporation 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.
Current score: -2.491 Sell Candidate Unchanged
Predicted Opening Price for Burcon NutraScience Corporation of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $0.238 ( 0.694%) | $0.240 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BU.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.243 | 1.39 % | |
| R2 | 0.241 | 0.593 % | ||
| R1 | 0.240 | 0.101 % | ||
| Current price: | 0.240 | |||
| Support | S1 | 0.236 | -1.49 % | |
| S2 | 0.235 | -1.98 % | ||
| S3 | 0.233 | -2.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.295 | 22.92 % | |
| R2 | 0.280 | 16.67 % | ||
| R1 | 0.275 | 14.58 % | ||
| Current price | 0.240 | |||
| Support | S1 | 0.220 | -8.33% | |
| S2 | 0.200 | -16.67% | ||
| S3 | 0.190 | -20.83% |
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