CANBIOLA INC Stock Forecast

Volatile ride for CANBIOLA INC stock price on Wednesday moving between $0.0308 and $0.0374
(Updated on Apr 24, 2024)

CANB Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). CANBIOLA INC 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The CANBIOLA INC 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 $0.0518. On a fall, the stock will find some support from the short-term average at $0.0331. 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 Friday, March 08, 2024, and so far it has fallen -68.89%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for CANBIOLA INC stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0330 and $0.0330. 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, CANBIOLA INC finds support just below today's level at $0.0330. If this is broken, then the next support from accumulated volume will be at $0.0330 and $0.0275.

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 $0.0066 between high and low, or 21.35%. For the last week, the stock has had daily average volatility of 11.01%.

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

Trading Expectations (CANB) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect CANBIOLA INC to open at $0.0344, and during the day (based on 14 day Average True Range), to move between $0.0270 and $0.0430, which gives a possible trading interval of +/-$0.0080 (+/-22.87%) up or down from last closing price. If CANBIOLA INC takes out the full calculated possible swing range there will be an estimated 45.73% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0330 (5.71%) than the resistance at $0.0394 (12.57%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is CANBIOLA INC stock A Buy?

CANBIOLA INC 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 Sell to a Strong Sell candidate.

Current score: -5.314 Strong Sell Candidate Downgraded

Predicted Opening Price for CANBIOLA INC of Thursday, April 25, 2024

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