MJNA - Medical Marijuana Inc. Fri 13'th Jan 2017
Stock analysis for Fri 13'th Jan 2017 (Updated daily)
Buy candidate since 2017-01-11
Medical Marijuana Inc. Stock Analysis
No changes to the price of Medical Marijuana Inc. in the last trading day. The price has risen in 4 of the last 10 days days.
Medical Marijuana Inc. lays 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 30.9% during the next 3 months and, with 90% probability will hold a price between USD 0.16 and USD 0.37 at the end of this period.
Medical Marijuana Inc. holds buy signals from both short- and long-term moving averages. In addition, 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 USD 0.18 and USD 0.14. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday January 10, 2017, which indicates further gains 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. Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention for the next couple of days.
Relative Strength Index (RSI)
RSI14 is 63 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside the stock finds support just below today's level from accumulated volume at USD 0.17 and USD 0.16 On the upside the stock meets some resistance from accumulated volume at USD 0.20.
There is natural risk involved when a stock is testing a support level, as if this is broken the stock may fall to the next support level. In this case Medical Marijuana Inc. finds support just below today's level at 0.17. If this is broken the next support from accumulated volume will be at 0.16 and 0.15.
This stock may move much during a 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 USD 0.00 between high and low, or 1.69%. For the last week, the stock has had a daily average volatility of 6.06%.
Our recommended stoploss: USD 0.16 (-11.11%) ( based on support and risk)
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term.