Volatile ride for Barrel Energy Inc stock price on Monday moving between $0.0360 and $0.0530 (Updated on August 30, 2021)

Sell candidate since 2021-08-19 Loss -38.04% PDF

The Barrel Energy Inc stock price fell by -24.00% on the last day (Monday, 30th Aug 2021) from $0.0525 to $0.0399. During the day the stock fluctuated 47.22% from a day low at $0.0360 to a day high of $0.0530. The price has fallen in 7 of the last 10 days and is down by -47.64% for this period. Volume has increased on the last day by 5 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 7 million shares were bought and sold for approximately $281.93 thousand.

The stock has broken the very wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and sell-off may occur. However, a further fall is realistic and any reactions back to the breaking point ($0.0476) are considered to be a second chance to get out. According to the fan-theory $0.0228 will represent the new bottom line of the next trend, but it is far too early to say this for certain.

Signals & Forecast

There are few to no technical positive signals at the moment. The Barrel Energy Inc stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.0549 and $0.0620. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, August 16, 2021, and so far it has fallen -47.64%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 months Moving Average Convergence Divergence (MACD). Barrel Energy Inc gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical sell-offs.

Support, Risk & Stop-loss

There is no support from accumulated volume below todays level and given the right condition the stock may perform very badly in the next couple of days.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be high risk. During the last day, the stock moved $0.0170 between high and low, or 47.22%. For the last week, the stock has had a daily average volatility of 23.64%.

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

Is Barrel Energy Inc stock A Buy?

Barrel Energy Inc holds several negative signals and is within a very wide and falling trend, so we believe 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: -8.438

Predicted Opening Price for Barrel Energy Inc of Tuesday, August 31, 2021

The predicted opening price is based on yesterdays movements between high, low, and the closing price.

Fair opening price August 31, 2021 Current price
$0.0430 $0.0399 (Undervalued)

Strong Sell Candidate Downgraded

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