BYND Cannasoft Enterprises Inc [BCAN] Is Currently -1.62 below its 200 Period Moving Avg: What Does This Mean?

BYND Cannasoft Enterprises Inc [NASDAQ: BCAN] loss -1.62% or 0.0 points to close at $0.21 with a heavy trading volume of 3729589 shares. The company report on January 25, 2024 at 9:00 AM that BYND Cannasoft Entering Production Agreements for its EZ-G Device.

Israeli Technology Company BYND Cannasoft Enterprises EZ-G Project Team is in Shenzen, China, to solidify agreements with two large manufacturers to produce its EZ-G Device and EZ-G Capsules.

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The daily chart for BCAN points out that the company has recorded -80.13% loss over the past six months.

If we look at the average trading volume of 497.80K shares, BCAN reached to a volume of 3729589 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about BYND Cannasoft Enterprises Inc [BCAN]:

The Average True Range (ATR) for BYND Cannasoft Enterprises Inc is set at 0.04, with the Price to Sales ratio for BCAN stock in the period of the last 12 months amounting to 9.99. The Price to Book ratio for the last quarter was 0.23, with the Price to Cash per share for the same quarter was set at 0.04.

Trading performance analysis for BCAN stock

BYND Cannasoft Enterprises Inc [BCAN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -17.36. With this latest performance, BCAN shares dropped by -14.80% in over the last four-week period, additionally sinking by -80.13% over the last 6 months – not to mention a drop of -93.94% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BCAN stock in for the last two-week period is set at 43.85, with the RSI for the last a single of trading hit 49.99, and the three-weeks RSI is set at 39.38 for BYND Cannasoft Enterprises Inc [BCAN]. The present Moving Average for the last 50 days of trading for this stock 0.2799, while it was recorded at 0.1976 for the last single week of trading, and 1.2981 for the last 200 days.

BYND Cannasoft Enterprises Inc [BCAN]: A deeper dive into fundamental analysis

BYND Cannasoft Enterprises Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 9.90 and a Current Ratio set at 9.90.

An analysis of Institutional ownership at BYND Cannasoft Enterprises Inc [BCAN]

The top three institutional holders of BCAN stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in BCAN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in BCAN stock with ownership which is approximately 5.8325%.