WEED Inc Stock Forecast
Volatile ride for WEED Inc stock price on Monday moving between $0.0741 and $0.0850
(Updated on Apr 22, 2024)
The WEED Inc stock price fell by -0.97% on the last day (Monday, 22nd Apr 2024) from $0.0828 to $0.0820. During the last trading day the stock fluctuated 14.71% from a day low at $0.0741 to a day high of $0.0850. The price has risen in 6 of the last 10 days but is still down by -4.76% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -56 thousand shares and in total, 5 thousand shares were bought and sold for approximately $412.13 .
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect WEED Inc stock with a 90% probability to be traded between $0.0729 and $0.0979 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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BUDZ Signals & Forecast
The WEED Inc 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 $0.0785 and $0.0776. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 12.33%. 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. 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 WEED Inc stock
WEED Inc finds support from accumulated volume at $0.0811 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0109 between high and low, or 14.71%. For the last week the stock has had daily average volatility of 16.87%.
Our recommended stop-loss: $0.0789 (-3.84%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (BUDZ) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect WEED Inc to open at $0.0804, and during the day (based on 14 day Average True Range), to move between $0.0718 and $0.0922, which gives a possible trading interval of +/-$0.0102 (+/-12.45%) up or down from last closing price. If WEED Inc takes out the full calculated possible swing range there will be an estimated 24.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0811 (1.10%) than the resistance at $0.0835 (1.83%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is WEED Inc stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for WEED Inc stock to perform well in the short-term period.
Current score: 3.853 Buy Candidate Unchanged
Predicted Opening Price for WEED Inc of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $0.0804 ( 1.99%) | $0.0820 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BUDZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0913 | 11.30 % | |
| R2 | 0.0871 | 6.22 % | ||
| R1 | 0.0845 | 3.09 % | ||
| Current price: | 0.0820 | |||
| Support | S1 | 0.0762 | -7.07 % | |
| S2 | 0.0736 | -10.21 % | ||
| S3 | 0.0695 | -15.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0980 | 19.51 % | |
| R2 | 0.0900 | 9.76 % | ||
| R1 | 0.0835 | 1.83 % | ||
| Current price | 0.0820 | |||
| Support | S1 | 0.0811 | -1.10% | |
| S2 | 0.0730 | -10.98% | ||
| S3 | 0.0720 | -12.20% |
FAQ
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