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High volatility in Metamaterial Exchangeco Inc. stock price on Tuesday which ended trading at $3.99

StockInvest.us, 4 months ago


The Metamaterial Exchangeco Inc. stock price gained 1.27% on the last trading day (Tuesday, 13th Jul 2021), rising from $3.94 to $3.99. During the day the stock fluctuated 19.66% from a day low at $3.51 to a day high of $4.20. The price has fallen in 7 of the last 10 days and is down by -49.87% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 8 million more shares were traded than the day before. In total, 49 million shares were bought and sold for approximately $196.71 million.

Given the current short-term trend, the stock is expected to rise 39.38% during the next 3 months and, with a 90% probability hold a price between $5.56 and $29.68 at the end of this 3-month period.

Meta Materials Inc.

Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Metamaterial Exchangeco 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 $5.45 and $7.44. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 21, 2021, and so far it has fallen -79.89%. 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).

Metamaterial Exchangeco Inc. finds support from accumulated volume at $3.94 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 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 $0.69 between high and low, or 19.66%. For the last week, the stock has had a daily average volatility of 20.84%.

Metamaterial Exchangeco Inc. is oversold on RSI14 (11). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

The Metamaterial Exchangeco Inc. stock holds several negative signals and despite the positive trend, we believe Metamaterial Exchangeco Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Check full Meta Materials Inc. forecast and analysis here.